First Property Purchase. Looking For Thoughts and Opinions.

[Nicholas Fitzgerald]

Hello,

I am excited to be starting my real estate journey (something ive been wanting to do for as long as i could remember). I recently applied and got approved for a 80k duplex. I offered $69,900 and it was accepted. Currently going through inspections right now, but was hoping to hear some thoughts on all the numbers to see if im forgetting something.

Cost of duplex: $69,900

Down Payment (25%): $17,475

Income: $1350 per month. Rate estimated as 650/700 respectively by the property management company I am planning to use. (Once both units are rented out)

Expenses per month: (Total $910)

TAX- $133, Insurance - $25, Vacancy - $135(estimating a 10% vacancy rate), Repairs - $67, Mortgage - $254, Property Management - $121, Capex - $94, water/sewage - $40, lawn care - $40

Cash Flow: $439. Anually: $5268

Cash on Cash Return: 25.75%

I will not be living in either unit and plan to rent them both out. No major issues with the property according to inspections. Some cleaning to be done, but not much more. What are your thoughts?

Am i doing the math right and how does this look?