Investors take note! Great investment opportunity conveniently located near James Madison University! Current rental income is $950 on a yearly lease which renews Dec 2024. Tenant pays all utilities and has been in the unit over ten years and wishes to remain if possible. The monthly association fee covers common area maintenance, reserve funds, trash/snow removal, vinyl sidings, and roofing so this is a very low maintenance unit. Three bedrooms and two full bathrooms with steady income and low maintenance make this a perfect opportunity for the right investor! The property is available to view during the open house on Saturday, February 8 from 3-5pm. Property is tenant occupied. Please do not disturb tenant.
Closed
$140,000
40 South Ave APT C, Harrisonburg, VA 22801
3beds
1,004sqft
Condominium
Built in 1986
-- sqft lot
$154,100 Zestimate®
$139/sqft
$1,599 Estimated rent
Home value
$154,100
$143,000 - $165,000
$1,599/mo
Zestimate® history
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$843/mo
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List your homeWhat's special
Three bedrooms
Zillow last checked:
Listing updated:
Listed by:
EMILY HARRIS HENRY 540-478-4928,
FATHOM REALTY
Bought with:
Duncan Rutherford, 0225240181
eXp Realty LLC
Source: CAAR,MLS#: 659230
Originating MLS: Charlottesville Area Association of Realtors
Originating MLS: Charlottesville Area Association of RealtorsFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
- Main level bathrooms: 2
- Main level bedrooms: 3
Rooms
- Room types: Bathroom, Bedroom, Dining Room, Full Bath, Kitchen, Living Room
Bedroom
- Level: First
Bathroom
- Level: First
Dining room
- Level: First
Kitchen
- Level: First
Living room
- Level: First
Heating
- Heat Pump
Cooling
- Heat Pump
Features
- Primary Downstairs
- Has basement: No
Interior area
- Total structure area: 1,004
- Total interior livable area: 1,004 sqft
- Finished area above ground: 1,004
- Finished area below ground: 0
Property
Features
- Levels: One
- Stories: 1
Details
- Parcel number: 019 E 40C
- Zoning description: R-3 Multiple Dwelling Residential
Construction
Type & style
- Home type: Condo
- Property subtype: Condominium
Materials
- Stick Built
- Foundation: Block, Brick/Mortar
Condition
- New construction: No
- Year built: 1986
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Available
Community & HOA
Community
- Subdivision: UNIVERSITY PLACE
HOA
- Has HOA: Yes
- HOA fee: $160 monthly
Location
- Region: Harrisonburg
Financial & listing details
- Price per square foot: $139/sqft
- Tax assessed value: $121,500
- Annual tax amount: $1,054
- Date on market: 12/4/2024
- Cumulative days on market: 9 days
Price history
| Date | Event | Price |
|---|---|---|
| 3/7/2025 | Sold | $140,000+8.5%$139/sqft |
Source:  CAAR #659230 Report a problem | ||
| 2/11/2025 | Pending sale | $129,000$128/sqft |
Source: CAAR #659230 Report a problem | ||
| 2/4/2025 | Listed for sale | $129,000$128/sqft |
Source: CAAR #659230 Report a problem | ||
| 12/7/2024 | Pending sale | $129,000$128/sqft |
Source: CAAR #659230 Report a problem | ||
| 12/5/2024 | Listed for sale | $129,000+12.2%$128/sqft |
Source: CAAR #659230 Report a problem | ||
| 1/17/2024 | Listing removed | $115,000+1.8%$115/sqft |
Source: CAAR #627878 Report a problem | ||
| 4/15/2022 | Sold | $113,000-1.7%$113/sqft |
Source: eXp Realty #176334247 Report a problem | ||
| 3/31/2022 | Pending sale | $115,000$115/sqft |
Source: CAAR #627878 Report a problem | ||
| 3/21/2022 | Listed for sale | $115,000$115/sqft |
Source: CAAR #627878 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | -- | $121,500 +1.4% |
| 2024 | $1,210 +20% | $119,800 +14.1% |
| 2023 | $1,008 +33.3% | $105,000 +29.2% |
| 2022 | $756 +15.9% | $81,300 +12.1% |
| 2021 | $653 | $72,500 +4.2% |
| 2020 | -- | $69,600 |
| 2019 | $599 +6.1% | $69,600 +4.8% |
| 2018 | $564 +58.7% | $66,400 +34.4% |
| 2017 | $356 | $49,400 |
| 2016 | $356 | $49,400 |
| 2015 | $356 | $49,400 |
| 2014 | -- | $49,400 -30.9% |
| 2012 | -- | $71,500 |
| 2011 | -- | $71,500 -0.4% |
| 2010 | -- | $71,800 |
| 2009 | -- | $71,800 |
| 2008 | -- | $71,800 +1.1% |
| 2007 | -- | $71,000 |
Find assessor info on the county website
Neighborhood: Central Avenue
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Nearby schools
GreatSchools rating
- 5/10Keister Elementary SchoolGrades: PK-5Distance: 0.2 mi
- 3/10Thomas Harrison Middle SchoolGrades: 6-8Distance: 1.2 mi
- 2/10Harrisonburg High SchoolGrades: 9-12Distance: 1.5 mi
Schools provided by the listing agent
- Elementary: Keister
- Middle: Thomas Harrison
- High: Rocktown
Source: CAAR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Virginia
- Harrisonburg City
- Harrisonburg
- 22801
- Central Avenue
- 40 South Ave Apartment C
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