Purchase analysis: What do you think of this deal?

[Krystof Pilisiewicz]

Hi,
I want to run some numbers by you, and see if my purchase would make sense.

I live in NYC so I`m trying to be creative with my approach. I will be managing this property on my own, and do fixes on my own.

Here you go:

This is a 2-family house (frame) with unfinished basement with 3 garages. Listing price $799K
- first floor (2 bedrooms)
- second floor (2 bedrooms, with enough space that I can add an extra bedroom, so I eventually I would have 3 bedrooms)

Expenses:

- Mortgage $3,643 a month (10% down-payment with 4.5% on a loan)
- Taxes $425 a month
- Insurance: $160 a month
- W&S: $160 a month
- Heat: $140 a month
- CapEx: $54 (2%)
- Vacancy: 54 (2%)
Total expenses: $4,636

Income:
1st Floor apt - $1800
2nd Floor apt - $2000 (because of the 3 bedrooms)
Basement – $900 (after I finish it)
Garage #1- 200
Garage #2- 200
Garage #3- 200
Total income: $5300

Does this make sense to you? Am I missing something? Should I add more to expenses, especially for CapEx and vacancy?

Love to hear your thoughts.
Thanks!