Is This Consider A Good Investment?

[Kenneth Lim]

Hi guys, I am still a newbie so I need advise on whether do you think this is a good investment or a bad investment. I convert all the currency to US$ instead of Thai Baht because I am currently in Thailand. I personally think this deal is a sound investment after viewing quite a handful of properties. Is my calculation correct? Below are the figures. Please comment what do you think of this investment. Thank you.

Cost: USD52,000
Mortgage: USD46,900

Rental: USD440
Operating Expenses: USD100
NOI: USD340

Mortgage Payment: USD250 per month
Net Cashflow: USD90 per month (USD1,080 per year)

ROI: USD1,080/USD5,200 X 100%

= 20.70%