Rental Property Analysis--Is this right?

[Laura C.]

I just completed a "Four square rental property analysis" for a fourplex in my area, and according to my calculations it has a negative cash flow. Am I missing something, or is this property just that "bad" of a deal? I have outlined my analysis below, and would appreciate any insight. Thanks!

Property: Fourplex in Southern California, Inland Empire area; each unit is a 2 bed/1bath, shared laundry, in a B class neighborhood; current rents are 1050-1200; market rent could be closer to 1300/1400.

Background: I used the information and numbers given on Redfin, to make these estimates; plus, I predict a sale price of $700,000 instead of the asking, $899,900. Based on the information they give about "net operating income," this property should cash flow around $2000/mo. (if you add in vacancy, repair, and CapEx, which they do not), but that is not what I'm seeing.

Analysis: (based on current rents)

Total Monthly income = 4700

Rental income = 4400

Laundry = 300

Total Monthly expenses = 6530

Taxes = 660

Insurance = 100

Water/Sewer = 150 

Trash = 70

Electric = 45

Gardner = 70

Vacancy = 215

Repairs = 400

CapEx = 400

Mortgage = 4420 

Cash Flow = -1830

Cash on Cash ROI = -63% (-21960/35000)

Total Investment = 35000

Down Payment (3.5% Owner Occupied) = 25000

Closing Costs = 5000

Rehab = 0

Misc. other = 5000

https://www.redfin.com/CA/Upland/880-N-Redding-Way...