Rental Property Analysis - Beginner - Am I doing this right?

[Paul Saechao]

Hi BP family,

I'm new to REI. Just finished Brandon Turner's Book on Rental Property Investing and wanted your help to see if I have my property analysis correct in regards to Cash Flow and CoC-ROI.

The property that I am analyzing is: 3314 W 100th St, Cleveland, OH 44111

Listing info:

-Duplex

-4 bed / 2 baths (2/1 per unit)

-3,097 square feet

-Listed on realtor.com for 449 days. Pro: Possibility to offer much lower than asking price. Con: Property could need MAJOR repairs. No inside pictures on listing.

-Unfortunately, no pictures of the inside and the listing has little information about the property. Let's just estimate a $15,000 rehab.

Purchase Info:

-Purchase price: $57,000

-Down payment (25%): $14,250

-Interest rate: 5% @ 30 years

-Closing costs: Est. $3,000

-Estimated repair costs: $15,000

Rental Info:

-Total rental income: $1,400 (This number is from Rentometer, which shows an average rent of $700/2b unit in this area)

Monthly Expenses:

-Mortgage (P&I): $229.49

-Property tax: $180 (tax rate for this zip code is 3.8%)

-Insurance: $14 (Got this estimate off realtor.com)

-Repairs/maintenance (5%): $70

-Vacancy (8%): $112

-CapEx (10%): $140

-Property Mgmt (10%): $140

-Utilities: $0 (Let's say all utilities will be paid or reimbursed by the tenants)

-Lawn care: $60 ($30 x 2 mows per month)

Final Calculations:

-Monthly expenses: $945.49

-Total invested cash: $32,250

-Monthly cash flow: $453.51

-Cash on Cash ROI: 16.87%

Did I do this right? Am I missing anything?

Thanks!