First timer here. Mind taking a look at my triplex analysis?

[Bridget Tierro]

Hello, everyone! I am considering pulling the trigger on an offer on a B-/C+ triplex in greater Philadelphia (3.5% down via FHA loan) and was wondering if the good people here at BP would be able to evaluate where I'm at so far. I am currently renting a place for $1,000, and I would like to "house-hack" and live in the 1BR unit (all numbers assume I am collecting rent from all three units though):

• Offer Price: $365,000
• 3% Seller Assist: $6,400

Total Income: $3,200

• Unit 1 Rent (2 BR, 1 BA): $1,250
• Unit 2 Rent (2 BR, 1 BA): $1,150
• Unit 3 Rent: (1 BR, 1 BA): $1,100
• Total Monthly Rent (before vacancy): $3,500
• Total Monthly Rent (assuming 1/12 months is vacant): $3,200

Total Mortgage: $1,940

• Monthly Mortgage: $1,700
• MIP: $240

Total Expenses: $1,065

• Maintenance/Repairs: $280/month (~8% of total monthly rent)
• Property Taxes: $240/month
• Insurance: $170/month
• CapEx: $175/month (~5% of total monthly rent)
• Water: $150/month (not metered)
• Miscellaneous: $50/month
• FYI - did not budget for property management, because I intend on living here long-term and self-managing

$3,200 - $1,940 = $1,260

$1,260 - $1,065 = $195 cashflow/month