Help me analyze my plan

[Crystal Evanisky]

I purchased my own home for 178K 3 years ago. Closing costs were $1200. I recently purchased a new home and am planning to rent out my old home. I will set rent at $1150. vac 5%, repair and maintenance 5%, cap ex 5% and prop management at 10%. Taxes for the home are $2092 a year. Insurance will run approx $150/month. i have a water softner rental bill of $22.20/month. Mortgage will be $473 .25 for 25 years at 3% (using heloc at 100K for renos on a new home as well as updating on this home. Bank wants it converted to a standard mortgage once it starts creating revenue). assuming all this my numbers are showing $38.45 cashflow? Am i doing this correctly? How would i calculate CoC and ROI and Cap rate and any other worthwhile numbers for me to see what this investment is making or breaking me? im confused since the original price is paid off and now there is new debt associated with it. anyways, whatever help people can give i would appreciate the feedback