VA LOAN (Owner Occupied) Duplex Analysis

[Shaka Farrier]

I'll keep this short and sweet. I am basing my numbers as if I were renting out both sides. I am rounding my mortgage costs up for easy calculation and my owner expenses (percentages) are pretty conservative 

Purchase Price: $215,000

Gross Rents: $2,400 ($1,200 per unit)

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-Mortgage Costs-

Principle: $1000

Interest: 3.5% ( I may do a rate & term refi for a 3.2% interest rate)

Taxes: $210

Insurance: $140 (Lowest quote thus far)

Appox.Total: $1350/month

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-Owner Expenses-

Utilities: $0/Minimal (water and electric separate)

Prop. Management: $240 (10%)

Cap Ex: $240 (10%) (roof,water heaters, electric heater, hvacs are pretty new)

Vacancy: $120 (5%)

Lawn Upkeep: $120 (5%)

Repairs: $120 (5%)

Approx Total: $840

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-Total Expenses/Profit Margin-

Income     $2,400

Mortgage: $1,350

Operation: $840

Profit:        $210

Deal or No deal? 

Am I missing anything?