Potential First Multi Family Deal

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Hello All,

I am 23 years old and I am on the fence about jumping into the world of real estate investing. I currently live at home with minimal expenses. I have a decent amount of money saved up and the only major expense I have is a car payment every month. Knowing all of this, here is my example:

I got pre approved for a home mortgage up to $100,000. I can put as little down as 5% (obviously I will be paying PMI monthly). The multi family I am analyzing is currently on Zillow for $99,900.

Home Price - $99,900

Estimated Closing Costs - $3,663.17

Estimated Initial Repairs - $3,000 (cushioned amount)

Total Loan Amount - $94,905

Total Cash Needed by me - $11,658.17

5% down payment

3.49% Interest

30 Year

Monthly Income (625 per side) - $1,250

Annual Taxes - $2,175

Total Monthly Mortgage and Tax - $652.45

Monthly Insurance - $50

Water/Sewer - $100

Vacancy Rate (8% of monthly gross) - $100

Repairs and Maint. (8% of monthly gross - $100

Monthly Cash Flow - $297.55

Gross Annual Income - $15,000

Annual P&I and Tax - $7,829.40

Annual Utilities/Insurance - $1,200

Annual Vacancy - $1,200

Annual Repair/Maint. - $1,200

Annual Cash Flow - $3,570.60

ROI - 3.27 Years

Please let me know your thought!!