Multi Family Deal Statement of Cash Flows

[Brendan Basler]

Hi guys! I am a newbie real estate investor still learning and would like some insight on a property I am analyzing. 

Some quick facts about the property:

Price: 265,000

No. Units: 6

Price/Unit: 44,166.67

Cap Rate: 9%

Year Built: 1900

Can you tell me what is wrong or can be improved with my numbers below.

Income for each unit being very conservative
Studio	650
One Bedroom	800
One Bedroom	800
Two Bedroom	1000
Two Bedroom	1000
Two Bedroom	1000
5250 / Month
Total Gross Income	5250
Vacancy Allowance (8%)	-420
Uncollectable or Credit Losses (4%)	-210
Net Rental Income	4620
Expense Data
Taxes (4.46%) (Potential to rise/Hartford is 7%)	985
Insurance	100
Management (10%)	525
Repairs (10%)	525
Utilities Paid By Owner	0
Total Expenses	2135
20 Percent Down	53000
Mortgage Amount	212000
Mortgage Payment (30 Years)	1012
Net Operating Income
Net Rental Income	4620
Total Expenses	-2135
Mortgage Payment	-1012
Net Operating Income/Month	1473
Net Operating Income/ Year	17676

Thanks!

-Brendan

[Filipe Pereira]

Hi Brendan, 

Are you planning on owner occupying this? Are you sure you don't need to cover ANY of the water costs? Sewer? Trash?