Deal or No Deal Please advise

[Mitchell Jamel]

Brand New 3 Bedroom , 2 Bathroom, 2 Car Garage, 1445 SQ Feet under air Purchase Price is $131,900 Seller paying All Closing Cost , Plus 1 Year full Warranty...

Rent in the Area ranges from 1,000 - 1,500 per month, based on comps this property will rent for $1200 - $1300 Per Month

Based on a 5 year arm I expect my Interest rate to be 4.5% as a investor

20% Down Payment $26380 , Mortgage amount $105,520.00

Payment                             Principal                                     Interest

534.65

$ 138.95

$ 395.70

HOA $42 Per month

Insurance $50 Per Month

Taxes = $150 per month

Total PITI & HOA = 776.65 & Misc 23.35 = $800 per month

Positive cash flow per month $400.00 = $4800 per Year or +/- 18% return

Cash Flow + Principal = 539 per month = $6468 or +/- 24 % Return on Cash

Cash Flow + Principal + Appreciation of 3% = Total of $10468 or  +/- 38%

Additional I believe over the 5 year rent and hold the additional rent , plus real appreciation of 5-6% will cover all selling cost , offering a 5 year return of 190% ...

OK, Let me have it