First Time Landlord!

[Brianna H.]

I just got my first investment property rented. Here are the stats:

Purchase price: $86.5k

Renovation: $15k (wrapped into loan)

Appraisal: $125k

Cash Invested Before Renting: $33k

Rent: $1500

Mortgage Payment: $400

Management: $125

Repairs: $60

Vacancy Allowance: $125

Insurance: $100

Taxes: $250

Realtor's Listing Fee: $125

Monthly Profit: $315

Expected ROI: 11.5% + Principal Paydown

What do y'all think of my expected ROI? Are my estimates for costs appropriate? I do not have a management company, but include that just in case I chose to go that route. I include 1 months vacancy/year to allow for the unexpected. I am trying to keep my figures conservative.