Estimating Expenses When Analyzing Potential Rental Property

[Omer Sultan]

Hello BiggerPockets Community!

I'm an aspiring real estate investor, and I'm looking for some insight into how I can properly estimate expenses when analyzing a potential rental property. I understand that certain properties will allow for the tenants to be responsible for their own utilities, but let's assume that that's not the case. I've been using the following figures, which I've sourced from my family's single-family home (as most of the properties I've been looking at are similar in size):

- Property Insurance = $175/month

- Maintenance & Repairs = $200/month

- Electric = $400/month

- Water = $200/month

- Misc. = $85/month

I've also been calculating Mortgage Payments, Property Taxes, and a 5% Vacancy Reserve separately. Do these figures sound about right? Am I missing anything worth noting?

Thanks in advance BiggerPockets Community!