Could someone critique my yield forecast?

[James Consworth]

I'm looking to diversify my existing portfolio by adding Real Estate. I'm considering between actual property or investing into a REIT. I would be interested in both commercial OR residential but in the attached valuation I have only included residential. I've come up with the numbers (price, rent, etc) exclusively from Zillow and have gotten an average of about 3.5% return per year with a cash purchase and with leverage the number is even worse.

The properties below are 1 bed 1 bath, condos, with HOA fees, in the southern CA area near a downtown zone.

I did a comparable comparison to one of the major REIT ETFs and the per year yield over the past 7 years has been 3.5%, roughly the same as actual property. Yield dropped to 2.5-3% from 09-11 but income never stopped and the principle has come fully back.

Am I doing something wrong with my valuation below or is that just the nature of the condo game? Thank you.