Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
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MULTI FAMILY PROPERTIES
1209 Old Windmill Cir, Harrisonburg, VA 22802     $650,000
MLS# 618889    Under Contract
Subdivision: Harmony Heights
Area: Harrisonburg
Circa: 1998 (23 years old)
Lot Size: 0.49 acres
Days on Market:   6 (since Jul 28, 2021)
Listing By: Cottonwood Commercial LLC
Incredibly rare opportunity to own a one-of-a-kind, custom 4-plex building in Harmony Heights. Intentionally designed with a very large 3 bedroom/2 bathroom owner's unit complimented by another 3 bedroom apartment, and two additional 2 bedroom apartments. The owner's unit features almost 2000 sq/ft of living space with vaulted ceilings, loft area, huge kitchen and an oversized 2-car garage.....it's more like a single family home by itself with a large covered porch, brick patio and even gorgeous mountain views and incredible sunsets. The other 3 units provide great revenue for an owner occupant or one could rent all 4 and have a great investment property. Extensive recent updates include 3 new heat pumps, 2 new water heaters, 2 new washer/dryers, new carpet and fresh paint in owner's unit, extensive landscaping and more. Meticulously maintained by current owner occupant - all units are in great condition and occupied. There simply isn't another one like this to be found anywhere. Owner/Agent.
 
301 Moved Permanently

301 Moved Permanently


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Sample Harmony Heights Investment Analysis....
Property Details
Purchase Price $227,500 based on median sales price
 
Income (Annual)
Monthly Rental Rate $1,100 estimate based on currently available rental data   
Projected Vacancy 4% half a month per year
Gross Operating Income    $12,672     
 
Expense (Annual)
Real Estate Taxes $1,957 estimate based on median sales price
Repairs $550 estimate based on typical property condition
Association Dues $540 estimated to be $45 per month
Property Management $0 assuming self management
Insurance $819 estimate based on recent trends
Utilities $0 assumes tenant pays all utilities
Advertising $100 estimate
Total Operating Expenses    $3,966  
 
Cash Flow Before Tax
Gross Operating Income $12,672  
 - Operating Expenses  - $3,966  
Net Operating Income $8,707     
 - Annual Debt Service  - $10,080 financing 80% of the purchase price at 3.75%
Cash Flow Before Taxes    $-1,374     

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Have Questions?  Contact Scott P. Rogers at 540-578-0102 or scott@HarrisonburgHousingToday.com.