Help analysing a deal

[Oleg Shalumov]

Trying to analyze my (hopefully) first property for Buy and Hold:

It is a 4 Family property with the following expenses:

• Asking Price $500K
• Down payment $100K (20%)
• Closing Cost $25K
• Repair $0 (property is in good condition)
• Property Tax $12K
• Insurance $4,400 (Building+Liability+Flood). Only 2 cases of Flood (Irene and Sandy)
• Management $5700 (10%) - even that it will be self-managed, I am putting this as expense
• Water $4800
• Vacancy Rate $3,100 (5%) - is that enough?
• Maintenance $3,100 - is that enough?
• CapEx $3,100 (5%) - is that enough?
• Gardening/Snow $1,000
• I was told that those are the only expenses. Am I missing anything else?
• Mortgage on $375K based on 4% for 30 years is $1,790
• Total Yearly Expense is $29,410 and Monthly expense + Mortgage is $4,241

The property is giving income of $5200 a month from all 4 apartments, with monthly Cash flow of $200 a month.

What do you think?

Thanks in advance for you responds.