Calculations of renting out home

[Erika Rogers]

I am trying to make a decision on which direction to go to start out my investment journey.

Currently I am trying to crunch the numbers of what cashflow I would produce if I decided to rent out my own SFH. Currently I am trying to crunch the numbers of what cashflow I would bring in if I decided to go this route.

Purchase Price was $149,900

Comps in the area look like I could potentially rent this property out for about $1,600

the PITI equals out to $1,132

Vacancy I used 10% of the rent = $160

Maintenance and Repairs I also used 10% of rent = $160

The calculation I used was $1,600-$1,132-160-160= $148/Mo

From what I understand that would only bring my monthly cashflow in as $148

1. Is this the correct calculation?

This does not seem worth it to me, I'd love to hear opinions and constructive criticism

[Tracy Streich]

@Erika Rogers  We manage over 600 properties in the Tulsa area.   I think your numbers are right.   The issue you run into is repairs beyond the normal maintenance.   Cap X can really kill you if you have to replace an AC or hot water tank.   Also what area of town is the house?  That rent may be a bit aggressive as well.   Let me know if I can help