My First Deal Analysis Numbers/Projections!(10.30% ROI)

[Nick Pacheco]

I'm new to RE investing--I have just analyzed my first property: 

I assumed this property was sold for $140,000, 20% down 4.3% interest, rented out for 1,300/mo, 9% property management, 5% cap exp., vacancy rate 7%, insurance $44/mo, property tax 4$/mo, P&I $560 (from realtor.com)

Cash flow per month is $240 or $2,880 annually.

Would you agree? Am I missing any significant variables? Any further comments are appreciated!

10920 N 83rd Ave, Peoria, Az 85345

https://www.realtor.com/realestateandhomes-detail/10920-N-83rd-Ave_Peoria_AZ_85345_M10493-53412?view=qv

[Bob Okenwa]

@Nick Pacheco

The taxes are correct based on the county assessor's site. Property has $300 in back taxes the last few years for what it's worth. The interest rate would probably be closer to 5% or just above it for a rental property.

I'd get with your realtor and have him/her verify your numbers as well and give you tips about the area. I'm an agent here in Phoenix and I've taken a look at the listing and it's showing that there is no lease in place and that the current rent is month-to-month at $1000.

Lastly, the property is in a flood zone. I'm not sure how much that affects insurance, but it's something else worth noting.

If there's anything else you need to know about the property or area, shoot me a PM.