House Hack Analysis. Is this a good deal? Any advice you can give

[Jamie Lee]

I've found a house that I'm interested in purchasing. 3 Bed / 2 Bath. I'd live in and convert the garage to a bed room while renting out the rest of the house. After I move out I'd rent out the garage(bedroom)

Here is how the deal works w/ me living in the property. I'd pay the utilities and reserves(money for repairs) which would be $500. I'm not accounting for appreciation in my calculations. After 1 year I'd have built $7529.8 in equity and I'd be able to save half of my monthly income from my job.

(I believe I can get the property $10,000 cheaper but I'm using my max budget to analyze)

Price: $350,000

DP: $10,500

Loan: $339,500

Income: $2050

2 Rooms( $650 + $650) : $1300

Master bathroom $750

Expenses:

PITI: $1,999.25

Reserver: $200

Utilities $300

Does this look like a good deal? Any times on figuring out how much to charge for a room? All feedback and advice is appreciated.