Help with analysis on first deal

[Joe Rinella]

Hi everyone,

I've come across a 4 family unit deal in Western Massachusetts that I'd like to put an offer on, I'd just like some input from everyone on the numbers before I go forward with it. This is my first deal so I want to make sure I'm not missing anything.

Property Cost: $200,000

Down Payment: 25% (50,000)

Mortgage terms: 30 year

Mortgage Rate: 5%? 

Anual Taxes: $4128

Gross Monthly Rent: $3,225 (the current tenants are underpaying. When they leave we will raise rents to total $3,900 or $4,000

Monthly Insurance: $194

Management fees: 10%

Utility costs I will have to pay per month: $391

Using the bigger pockets calculator, I'm not exactly sure what to include there for vacancy rate, repairs/maintenance, and cap ex. I put 7% for these as an estimate because the property has a newer roof, new boilers, and does not have a septic system. It seems to be very well maintained and in really good condition. Any repairs I can see would be minor cosmetic. I think the vacancy rate is 7% but am not 100% sure.

Any help would be greatly appreciated. I'd like to put in an offer tonight but want to make sure the numbers all make sense. If I can raise the rents to $3900 total, using the bigger pockets calculator it looks like I'll get just under $1,000 net income after all expenses per month. I've heard that $250 profit per unit in Massachusetts is good, and I think I'm just about there after we raise rates and assume all the numbers I calculated for expenses are correct. Is this profit also good for the amount of money I'm considering putting down?

Thanks!

-Joe