Cap Rate after income tax

[Supreet Singh Sachdeva]

I am a first time house buyer. 3 of us just made a LLC and are planning to buy our first rental property. I contacted an agent about a property and got a cashflow analysis worksheet from him. So, the property is for 23k with a cap rate of 25%. Here are the expenses given in the worksheet.

Real Estate Taxes-1294

Water-142

Insurance-305

The net cashflow mentioned before taxes is $6059. Looks good till this point. Then there's a term 'Tax Liability(savings) at 36%' which is $2041 and brings down the cashflow to $3628. What does this term exactly mean? Does this look like a good buy? What are the other expenses that i should be considering here?

Thanks