Are my numbers right?

[Jerry Ellis]

I've been looking at properties and crunching numbers. I feel like I'm missing something so I'd appreciate someone looking at this example and providing feedback. Note that I don't know for sure about the closing costs as I’m still shopping lenders and I haven’t gotten quotes to mow the grass so I’m estimating some of these numbers as well as a few others.

Units 3

Rents $425, $425, $450

Purchase Price $75,000.00

Yearly Property Tax $1,379.00

Monthly expenses -

Insurance $80.00

Property Tax $114.92

Landscaping $50.00

Water $100.00

Vacancy 10% $130.00

Maintenance 10% $130.00

Cap Ex 10% $130.00

Will self manage $0

Expenses Monthly Total $734.92

Cash Flow $565.08

Cash Flow (After Mortgage) $261.07

Loan Amount $60,000.00

Down Payment $15,000.00

Interest Rate 4.500%

Length (Years) 30

Monthly Mortgage Payment $304.01

Closing costs $2500

2% Rule 1.73%

50% Rule 56.53%

Cash on Cash Return 17.90%