What is a good amount of cash flow for rental income.

[Guy Primo]

I am looking to purchase a condo. Here are the numbers I came up with for this property. What do you think of these numbers? Looking to purchase my first income property already have single family. Is this a decent cash flow with these numbers? Location Rhode Island.

Condo Price $157,000

First Year Income and Expense Monthly Annual Income: $1,300.00 $15,600.00 Mortgage Pay: $568.97 $6,827.59 Vacancy (5%): $65.00 $780.00 Property Tax: $188.00 $2,256.00 Total Insurance: $66.67 $800.00 HOA Fee: $20.83 $250.00 Cash Flow: $390.53 $4,686.41 Net Operating Income (NOI): $959.50 $11,514.00

[Mitch Miller]

@Guy Primo , I agree with @Caleb Heimsoth this is not a stellar deal, most investors have certain returns they look for in a deal.  The most common sniff test is the 1% rule, where the property can produce 1% of the purchase price every month, it's worth digging into and looking at the deal in more depth.  For me, I look only at deals that pass the one percent rule and then needs to have a certain Cash on Cash return before I make an offer.  At the end of the day, it's up to you if this deal makes sense to you and your qualifications.  

A side note is, I don't see you accounting for any maintenance or any property management if you will use a PM.  I also lean on being more conservative on my expense when I look at a deal, you only have 5% vacancy, which equates to about half a month of Vacancy a year.  If you live in a very hot area this may be acceptable but seems a tad slim to me.