Advice in a Deal Analysis in Richmond, VA

[Paul Rolon]

Hi everyone,

I am currently analysis a deal in Richmond, VA in North Chesterfield. Its a Buy and Hold. This is my first deal, I am doing a buy and hold strategy for a 3 bed 2 bath house around the Midlothian area.

Purchase Price: 150,000

Mortgage with taxes and Insurance: 740

Maintenance cost: 74/month ( had the house inspected and its in really great shape only minor cosmetic things)

Total Expense: 814

Rent Range: 1100-1300 

Expected Rent:1,150

Expected Cash Flow: 336

Is this a good deal? Any advice or recommendations would be really appreciated.