A service of Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group 540.578.0102 | scott@HarrisonburgHousingToday.com
1116 Blue Ridge Dr, Harrisonburg, VA 22802 • $199,900
MLS# 670187 • For Sale
| Subdivision: | Madison Manor |
| Area: | Harrisonburg |
| Heating: | Central Heat |
| Cooling: | Central AC, Heat Pump |
| Circa: | 1988 (37 years old) |
| Lot Size: | 0.00 acres |
| Association Fee: | $196 |
| Days on Market: | 53 (since Oct 15, 2025) |
| Listing By: | Old Dominion Realty Inc |
Beautifully updated 3-bedroom, 2-bath condo offering modern finishes and excellent investment potential! This unit features new luxury vinyl plank flooring, fresh paint throughout, and a refreshed kitchen with new countertops and appliances installed this year. The home offers a practical floor plan with defined living, dining, and kitchen spaces, providing both comfort and functionality. Conveniently located near shopping, dining, and commuter routes. Currently leased, this property is a perfect opportunity for investors seeking a turnkey addition to their portfolio.
| Elementary School: Smithland | Middle School: Skyline | High School: Rocktown |
Sample Madison Manor Investment Analysis....
| Property Details | ||
| Purchase Price | $0 | based on median sales price |
| Income (Annual) | ||
| Monthly Rental Rate | $850 | estimate based on currently available rental data |
| Projected Vacancy | 4% | half a month per year |
| Gross Operating Income | $9,792 | |
| Expense (Annual) | ||
| Real Estate Taxes | $0 | estimate based on median sales price |
| Repairs | $850 | estimate based on typical property condition |
| Association Dues | $2,220 | estimated to be $185 per month |
| Property Management | $0 | assuming self management |
| Insurance | $0 | estimate based on recent trends |
| Utilities | $0 | assumes tenant pays all utilities |
| Advertising | $100 | estimate |
| Total Operating Expenses | $3,170 | |
| Cash Flow Before Tax | ||
| Gross Operating Income | $9,792 | |
| - Operating Expenses | - $3,170 | |
| Net Operating Income | $6,622 | |
| - Annual Debt Service | - $0 | financing 80% of the purchase price at 7.75% |
| Cash Flow Before Taxes | $6,622 | |