New Real Estate Investor renting analysis

[Brandon Lewis]

Hello Bigger Pockets community I am a new investor planning on buying my first rental property . I did a rental analysis on the property using the analysis calculator on Bigger Pockets and I wanted to get a some feedback to see if my numbers and calculations are accurate. This property is most likely going to be financed through a conventional loan and I have the details posted below, so please reply if anyone has any suggestions for me . Also should I take into account the 70% Rule when making my an offer? looking forward to hearing your thoughts. Thanks

Home Listed Price: $119,900

Address: 210 North Star rd

Perry, Ga 31069

Purchase Price: $100,000

ARV: $120000

Monthly income: $1200

Monthly expenses: $860.43

Monthly Cashflow: $339.57

Estimated Repairs: $1000

Purchase Closing Costs: $2000

Down Payment (@ 20%) : $20K

Loan amount: $80K

Loan interest rate: 4.5%

Monthly P&I: $405.35

Total Cash needed: $23K