A service of Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group 540.578.0102 | scott@HarrisonburgHousingToday.com
1261 Old Windmill Cir, Harrisonburg, VA 22802 • $849,500
MLS# 671256 • Under Contract
| Subdivision: | Harmony Heights |
| Area: | Harrisonburg |
| Circa: | 1999 (27 years old) |
| Lot Size: | 0.39 acres |
| Days on Market: | 16 (since Feb 16, 2026) |
| Listing By: | Harman Realty Inc |
Welcome to this exceptionally rare investment opportunity located in the heart of Harrisonburg, VA. This well-maintained four-unit residential building offers modern finishes, strong rental potential, and a highly desirable location within minutes of downtown Harrisonburg, JMU, and I-81 access. Whether you’re an investor seeking steady income or an owner-occupant looking to live in one unit and rent the others, this property provides versatility, reliability, and long-term value. *Property is now back on the market from pending - due to no fault of the property or the seller.
Sample Harmony Heights Investment Analysis....
| Property Details | ||
| Purchase Price | $360,000 | based on median sales price |
| Income (Annual) | ||
| Monthly Rental Rate | $1,300 | estimate based on currently available rental data |
| Projected Vacancy | 4% | half a month per year |
| Gross Operating Income | $14,976 | |
| Expense (Annual) | ||
| Real Estate Taxes | $3,240 | estimate based on median sales price |
| Repairs | $650 | estimate based on typical property condition |
| Association Dues | $540 | estimated to be $45 per month |
| Property Management | $0 | assuming self management |
| Insurance | $1,296 | estimate based on recent trends |
| Utilities | $0 | assumes tenant pays all utilities |
| Advertising | $100 | estimate |
| Total Operating Expenses | $5,826 | |
| Cash Flow Before Tax | ||
| Gross Operating Income | $14,976 | |
| - Operating Expenses | - $5,826 | |
| Net Operating Income | $9,150 | |
| - Annual Debt Service | - $24,468 | financing 80% of the purchase price at 7.75% |
| Cash Flow Before Taxes | $-15,318 | |