Harrisonburg Multi-Family Cap Rates


Harrisonburg Multi-Family Cap Rates
By Scott Rogers • May 6, 2008
Multi-family properties often provide different cap rates than single properties. Let's take a look at some recent multi-family sales in Harrisonburg . . . 1710 Park Road, Harrisonburg = 5.1% 1986 Brick quad Sold for $400,000 in February 2008 ( ($2030 per month x 12 months) - ( $1023 insurance + $2002 taxes + $1,000 repairs ) ) / $400,000 sale price 325 Colicello Street, Harrisonburg = 10.6% 1919 triplex Sold for $184,500 in April 2008 ( ($21600 per year) - ( $658 insurance + $678 taxes + $750 repairs ) ) / $184,500 000 sale price 331 Grace Street, Harrisonburg = 3.4% Duplex Sold for $282,000 in September 2007 ( ($1040 per month x 12 months) - ( $720 insurance + $1538 taxes + $500 repairs ) ) / $282,500 sale price As you can see, in multi-family properties, the cap rate is not as predictable as in singe family rental property. Related Posts: Harrisonburg Single-Property Cap Rates What Is A Cap Rate? Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 24, 2024 (unless otherwise noted).
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