Is everyone seriously underestimating Capex?

[Kris L.]

I've been sitting around for the past few days due to this virus situation and decided to run some Capex numbers on a typical house for the Tampa area. I apologize if this post is long, but I wanted to try to be comprehensive. Being a newbie, I may have some numbers that are a bit off, and if so, feel free to challenge them.

So I have seen people assuming Capex of 5-10% of the rent, which would equate to $85-170/mo for a 1,500 sqft 4br/2ba with no garage.

When I run the numbers though, I get: $328mo, or just over19%, so I wanted a sanity check.

I calculated the following (installed costs):

Water heater- $1,000 per 10 years =$8.3/mo

Doors(8int)- $2,400 per 25 years =$8/mo

Cabinets- $5,000 per 20 years =$20.8/mo

Counters (gr)- $4,000 per 25 years =$13.3/mo

Backsplash- $2,000 per 25 years=$6.7/mo

Fridge- $700 per 20 years=$2.9/mo

Oven- $500 per 20 years =$2.1/mo

Microwave- $300 per 15 years = $1/mo

Dishwasher- $400 per 15 years =$2.2/mo

Garbage Disp- $200 per 10 years=$1.7/mo

Washer- $400 per 15 years=$2.2/mo

Dryer- $400 per 15 years=$2.2/mo

Siding- $12,000 per 25 years=$40/mo

A/C- $5,000 per 15 years=$27.8/mo

Door(Fr)- $2,000 per 30 years=$5.6/mo

Door(Back)- $750 per 30 years=$2.1/mo

Roof- $7,500 per 20 years=$31.3/mo

Tile (500ft2)- $6,000 per 20 years=$25/mo

LVP(1000ft2)- $5,000 per 10 years=$41.7/mo

Paint (int)- $4,500 per 5 years=$75/mo

Gutters (200ft)-$2,000 per 20 years=$8.3/mo

I would probably need some $ for driveway, exterior paint and landscaping as well, but overall with what I have included, it seems 2-4x more then most people even budget for. Am I way off somewhere?