The townhouse shown above recently became available for rent -- and within days there were 30+ inquiries, multiple applications, and the tenants have already moved in.

There is a significant shortage of well maintained rental properties for non-students in the City of Harrisonburg.  So, investors, anyone want to step up to the plate and purchase some properties to turn around and rent?

Now, admittedly, the return on such a property is not as favorable as you might find with a student rental, or a multi-family property, but the numbers still work.

For example....

Purchase Price:  $150,000
Down Payment:  20%  ($30,000)
Interest Rate on 30 year Mortgage:  4.5%
Monthly Payment:  $740 (principal, interest, taxes, insurance)

Rental Income:  $1050
Property Management:  -$105
Association Dues:  -$50
Mortgage Payment: -$740
Net Cash Flow: +$155

So -- if you're interested in buying a townhouse or two to help with this rental shortage -- and to benefit yourself financially, let me know.