New to Multifamily - Does these numbers (expenses specifically) look realistic?

[Joshua Woolls]

Apartment building Analysis

60 Unit

Price $725,000.00

Upfront Repair Costs $500,000.00

Total initial Investmen $1,225,000.00

Down Payment10% $122,500.00

Interest Rate 6%

Loan Length (Years) 15

Payments per year 12

Monthly Payment $8,604.07

# of Studio 0

# of 1 Bedroom 36

# of 2 Bedroom 24

# of 3 Bedroom 0

Rents:

Studio

1 Bed$575.00

2 Bed$675.00

3 Bed

Maintenance Fee $35,000.00

Managemnet Fee $45,000.00

Cap X (2%?) $24,500.00

Taxes (3%) $36,750.00

Insurance (2%) $24,500.00

Vacancy Rate (5%) $61,250.00

Utilities $30,000.00

MonthlyRents $36,900.00

Yearly Rents $442,800.00

Monthly Expenses $21,416.67

Yearly Expenses $257,000.00

Monthly Payments $8,604.07

Yearly Payments $103,248.83

Cash FlowMonth $6,879.26

Cash Flow Year $82,551.17

Cash on Cash Return 67.39%

Cap Rate15.17%