3/2 Single family rental prospect
Any advice on the deal would be appreciated, and checks on my calulations (i'm new to this). I didn't include monthly property management because I would manage it, plus if I added that the numbers didn't look so good. Also I plan to live in the house for a year before I rent it out.
| purchase price | 104000 |
| down payment (5%) | 5200 |
| Loan Amount | 98800 |
| total cash out of pocket (closing&rehab) | 17200 |
| monthly rent | 1100 |
| prop tax | 178.83 |
| insurance | 80 |
| Mortgate Insurance | 23.4 |
| Mortgage | $478.83 |
| vacancy (8% of rent) | 88 |
| repairs (5% of rent) | 55 |
| capital expenditures (5% of rent) | 55 |
| Monthly Expenses | $959.06 |
| Cash Flow | $140.94 |
| Cap Rate | 7.15% |
| Cash-on-cash | 9.83% |