SFH Analysis Advice, Grand Prairie TX

[Sam Garner]

Hey guys, first time investor, just running numbers on properties and trying to learn, found this one. Any input is appreciated. Am using (I think) pretty conservative numbers. 

SFH 3/2.5, 2 car garage, Built 2008. 2074 sq ft

Asking Price- $99,000

Purchase Price (20% discount)- $79,200 

ARV- $140,000 (going off comps and similar properties) Appraisal website says its market value is $131,900. Is this an accurate reflection for the ARV?

Rent- at 1% (realistic or conservative?) $1400

Loan- 95% of purchase price. Just using a generic 5% interest rate here. I feel this is probably low though and could throw off everything. I'd still need to get creative with financing, don't know if I could even do 5% down payment. And my understanding is I can't do an FHA loan because it's not owner occupied...?

Closing Cost- $1500 

Estimated Repair- $5000

Vac/Repairs/CapEx- 5/5/5

Income Increase/PropVal Increase/Expense Increase- 2/3/5 (Feel these are pretty conservative too) 

Cashflow is $109, but I think I used pretty conservative numbers across the board and might see that go up? Initial offer might even be lower to negotiate to the 79,200. 

School district is not very good, could be better....

Would love input. Def still learning so I'd love to know where I might have made a grave miscalculation.