Single home- First time investor need help with COC and CAP rate

[Eve Oliver]

I am a new investor and I am looking to buy my first Single home.  I need some help with my numbers: I used bigger pockets calculator. What is a good Cash on Cash and Cap rate for a single home? This house is move in ready. 

Monthly income: $1200

Purchase price:$84,900

Monthly expenses: $987.52

Monthly Cash Flow: $212.48

Cash on Cash ROI :9.45%

CAP Rate: 8.23%

[Andrew Johnson]

@Eve Oliver I'm going to avoid the diatribe about not using "cap rate" when talking about SFRs, but I digress.  I think @Brandon Johnson hit the nail on the head. I have no idea what the prevailing ROI is for a property in Yukon, Oklahoma. Someone in San Diego would jump all over anything with a 9.45% cash-on-cash return. Someone in a Memphis warzone would probably run for the hills and say you're leaving money on the table. And, not for nothing, but you cash-on-cash return with what percent down? Plenty of cash-on-cash returns look awesome with the house-hacking FHA 3.5% down numbers. They wouldn't look nearly as good if you use a conventional investment property 25% down number.

You might want to post a screen capture of your BP pockets calculator results. People can see if you're forgetting anything in those calculations, believe me...it happens. Hopefully someone from OKC will be able to jump in and talk through the prevailing ROI numbers for the area so you can get a better sense of how the property stacks up.