Pick this deal apart...I would love others opinions

[Mike Evans]

Hey bigger pockets! I have a few questions for some of you more experienced veterans who have bought Quadplexes in the past. I found a fourplex in a neighboring town with a good chance for positive cash flow. I did some quick calculations and even used the Calculator here at BiggerPockets and have been digging for detailed numbers ever since. I intend to take a look at the property in the near future as I have already contacted a realtor and made contact with the owner of the property. I would be extremely grateful if you can spot check my numbers and show me where I might be off-track. 

Here are the numbers:

List Price - $129,900

ARV - $160,000

Monthly Rent - $2,450

Assumed Average Vacancy - 5% (currently 100% occupied)

Homeowners Insurance - $500

Property Tax - $2,700 (Annual) = 225 (Monthly)

Water/Sewer/Trash - $300 (High Estimate)

Management Fee (10%) - $245

Landscaping Fees - $60 (monthly)

Financing Costs (5% Interest, 20% Down, 30-yr Fixed) - $623

CapEx 2%, Repairs 2%, Vacancy 5% = $196

Total Expenses - $2149

Monthly Cash Flow = $2450 - $2149 = $300/Month

Yearly Cash Flow = $3,600

The Cash on Cash Return is about 11%.

I am very excited to hear your feedback!

-Mike

[Mike Evans]

@Joseph Gozlan No Sir, I appreciate all of y'alls corrective criticism. I would much rather run through all this now than after the purchase. I'm learning and I appreciate y'all taking the time to look over the numbers. Now I have a way better idea going into not only this one but future investments. Thanks again.