Foreclosure, trying to get my numbers right! Advice please

[Luke M.]

Would really like to know what your guys/girls thoughts are on this deal. Am I close to getting the numbers right? What are your thoughts on these numbers if I do for some miracle have them right? Thank you

SFH 3bd 2b Foreclosure homepath home

$65,000 asking price

1296 sq ft

big yard fenced in, concrete driveway

vinyl siding with good looking roof.

I havent been in it yet, going to take a look monday. Assuming all is fairly ok for now..

home last sold in Jun 2008 for $105,900

Here we go again......

Cost Assumptions

65,000

13,000 down

3,000 improvements

2,000 closing fees

Financing

52,000

13,000 down

4.5 apr

20 yrs

328.98

Revenues

950 monthly

11,400 annual

Expenses

Property Tax $2,112

Insurance 600? Not sure how to calculate this Purchase price of the home or is it the assessed value of the home?

Property Management 1,140

CAPEX 1,140

vacancy 950

utilities 120 (2 months enough?)

6,062

NOI

11,400-6,06 = $5,338

Cash Flow

$5,338 - $3,947.76

=$1,390.24

Cap Rate

11,400/70,000 = .16

COC

1,390.24/18,000 = .07

Am I even in the ballpark on these figures? I have been really beating my head trying to learn this stuff! If I only knew I wanted to do this in highschool....

ANY advice is soo much appreciated! Thank you for in advance for looking and sharing..

Luke