Help me understand. 100k scenario.

[Harry Aiken]

Condo: 100k. With a 20% downpayment of 20k. Ill have a loan for 80k. Closing cost of $3000

Cash invested: $23,000

Rent: $1500/mo or $18,000 year

Mortgage $500/mo. Or $6000/year.

Vacancy rate at 5%. $900/year. 

HOA fees are 300/month. $3600/year

Property taxes are 1500/year. Insurance of 100/month. $1200/year.

Repairs of $150/month. $2000/year.

Capital expenditures: $100/month $1200/yr

Property management: 6% or $90/mo or $1080/yr.

CAP rate: $18,000-$900 (Vacancy rate)-$3600 (hoa fees)-1500 (property tax)-$1200 (Insurance)-$2000 (Repairs)-$1200 (capex)-$1080= $6520. Or

$6520÷100,000= 6.5% cap rate.

Return on Investment

Rent: 1500

Mortgage: 500

vacancy: $75

Hoa: $300

Property tax: $125

Insurance: $100

Repairs: $150

Capex: $100

Property management: $90

Cash flow: $60/mo

$60 x 12=$720 cash flow per year.

Cash on cash= $720/$23000 or 3.1%. Or just keeping up with inflation. Does this look right?