1304 Luke Ln, Harrisonburg, VA, 22802 | $540/mo Cash Flow

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1304 Luke Ln, Harrisonburg, VA, 22802 | $540/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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Ziffy AI Summary

A quick, investor-focused snapshot highlighting income strength, yield potential.

Key metrics	Value
Price	$399,900
Est. Rent	$3,200/mo
ROI	18%

Attractive rent-to-price ratio for income stability
Good fit for DSCR financing with healthy coverage

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Investment Highlights

Rental property for sale in Harrisonburg at 1304 Luke Ln, Harrisonburg, VA, 22802 generates $2,034/mo in rent and, after a $1,223/mo payment, leaves $540/mo in cash flow. Total monthly income is $2,034/mo, and annual cash flow is $6,483/yr on $82,842 invested. Return on cash invested sits at 27.74% in year one, and rental yield is 9.77% on a $249,900 entry. Equity gained on principal adds $1,613/yr, while 5% annual appreciation builds toward $69,043 over five years. Five-year ROI reaches 144.57% and total cumulative return in cash sums $119,762. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,034/mo property income rather than buyer’s personal income.

Townhouse

Built in 2025

1,742 sqft lot

$N/A/sqft

No HOA

More details about the property

New Construction Townhome in a Prime Harrisonburg Location! Introducing Northside Village a fresh, modern townhome community located in one of Harrisonburgs fastest growing and most desirable areas, just minutes from downtown, EMU, and JMU. This beautifully built 2-bedroom, 2.5-bath home offers 1,152 square feet of living space that blends comfort, style, and convenience. Bright and open main level thats perfect for both everyday living and entertaining. The kitchen shines with clean white cabinetry, stainless steel appliances and quality finishes, while luxury vinyl plank (LVP) flooring throughout the main level. Plush carpeting brings comfort to the upstairs bedrooms. The upper level is thoughtfully designed with two generously sized master suites, each featuring its own private bathroom. Buyers who secure their home early will enjoy the opportunity to select from a variety of interior design packages to tailor their space to their taste. Optional upgrades include LVP throughout, granite countertops, and a stackable washer/dryer for added style and convenience. This is a fantastic opportunity for first-time buyers, those seeking low-maintenance living, or investors looking for quality new construction in a central location.

Neighborhood Data

Neighborhood data shown for ZIP Code: 22802, Harrisonburg, VA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	11,770 (100%)
Owner Occupied HU	6,055 (51.4%)
Renter Occupied HU	5,094 (43.3%)
Vacant Housing Units	621 ( 5.3%)
Median Home Value	$337,373
Average Home Value	$376,202