Help Analyzing a property

[Scott Garvin]

Hi everyone... I'm a newbie that is getting his feet wet analyzing properties. I found one on the MLS and ran number against it and wanted to know if I am doing it correctly or if anyone has pointers,

Here is the rundown:

Sales Price - 37,000

25% Down Payment (from a HELOC) - 9,250

Remainder - 27,750

Closing Costs - 4,000

Mortgage - 31,750

Income:

Rent - 750

Payments:

Mortgage & HELOC (@6%) - 293.78

Tax - 75

Insurance - 100

Repairs (5%) - 37.50

Vacancy(7%) - 52,50

Property Mgmt(10%) - 75

Total - 633.78

Cash Flow - 116.22

I want to pay off my HELOC as quick as possible, so that should up the cash flow to 219.64

Please provide some feedback

Thanks in advance for your help!