Help analyzing this Renatal property

[Freddy Pettiford]

Hey Everybody,

I'm here in Fayetteville NC, Looking at a potential property that I would like to turn into my first rental property! This is my first time trying to analyze an actual property so here are my numbers.

Purchase price:60k

Cash to close: ~3k(Im not totally sure how much I will have to bring to this deal as of yet.. so here's just an estimate)

Income;

Monthly rent: $775

Monthly Expenses;

Mortgage: ~$300

Property Tax:$95

Insurance:$75

Property Management: $75

Vacancy(10%): $75

Repairs(5%): $40

Total Expenses:$660

Cash flow :$115

Cash on Cash Return : 21%

Am I missing anything? Adding to much in an area? Any advice would be greatly appreciated..

Is this a good number for cash flow?..$115 does not seem like a lot..

Thanks in advance for all the feedback.

[Alexander Felice]

If the numbers are right then it looks like a deal to me.  I look every day at properties in the area and that's what deals around here look like. It's not a SLAM DUNK, but it doesn't have to be.  Get this one, make some money and keep looking for more.