Are these numbers correct?

[Chris Preone]

So just curious if my number formula is correct 

$15k down plus $15k Reno = $30k 

rental income/year  $14500 

vacancy rate 2% 

operating expensive 35% ( to cover condo fees maintenance insurance ect) 

$5500 a year mortgage 

so roughly a 12.25% cash on cash return ?  Does seem fairly reasonable 🤔 

went high on the Reno estimate and maintenance costs ect and low on the rental amounts.. so hopefully it will work out better.. 

[Chris Preone]

Quote from @Jaycee Greene:

Hey @Chris Preone, welcome to the BP Forum! Based on those numbers, yes CoC return is "accurate" but I wouldn't say it's "reasonable"...in fact, it seems VERY high. Others who focus on CoC (I focus on IRR and EMx) will probably comment as well, but most "good" CoC returns are in the 6%-10% range.

Out of curiosity, did you buy the property for $75k and is the ARV $130k?

 Just working on buying it for the $75k. Everything is looking good, Just wanted to double check the projected was the correct formula.. still learning.