good rental or no good?

[Yia Her]

Currently negotiating a deal to keep as rental.  Just want to see if my numbers I have inputted in the rental calculator is good and from your experience, would this be a good buy why or why not.   

Property Info:

Purchase Price: $180,000.00 

Purchase Closing Costs: $5485

Estimated Repair Costs: $6,700

Total Cost of Project: $192,185

After Repair Value or Market value: $240,000.00

Down Payment: $36,000 Loan Amount: $144,000.00

Loan Fees: Amortized Over: 30 years 

Loan Interest Rate: 5.000% 

Monthly P&I: $721.49

Monthly Rental Income: $1,450 

Monthly Expenses: $1,157.84 (this includes taxes, insurance, landlord covers utilities, garbage)

Monthly Cash Flow: $292.16

Pro Forma Cap Rate:5.22%

NOI: $12,520.00

Total Cash Needed: $49,625

Cash on Cash ROI: 7.06%

Purchase Cap Rate: 6.96%

Thanks 

Yia 

[Nicholas W.]

To put it simply, no. At least not by my standards

There's not enough spread, you don't have anything factored in for vacancy or repairs or maintenance. Is this a single family house or a duplex? If it is a SFR why are you paying the utilities? Put a 5% vacancy and $50 (minimum) for repairs and maintenance and your cashflow is less than $200. And that still doesn't account for any CapEx.