First Time Rental 2 Bed Room, 1 Bath - Are My Number Right?

[Steven S.]

Hi yall,

I just saw this property that's a fairly low price for the area it's in. A nice neighborhood in a city with a lot of less "nice" areas. It's a 2 bedroom, one bath that fits the 1% rule for rental pricing, but the investment calculator is giving me a negative cash flow estimate. I figured I'd at least break even?  I was wondering if anyone could help me to know if I'm being to conservative with my estimates.

Cost: 150,000 w/ 20% down.

Rental income: 1,500

Mortgage: 662/month

taxes: 143/month

insurance: 52/month

Rental Management: 150/month

Maintenance: 375/month

CapEx: 375/month

Vacancy per month (10%): $150/month, 1,800/year

Vacancy per month (10%): $150/month, 1,800/year 

I used the 50% rule for maintenance/capex. This puts me at $1,906 total expenses per month. Does that track? Or am I overestimating something?