Is my analysis correct?

[Katherine S.]

I'm new to this site, and have just run our last rental purchase through the deal analysis outlined above.  I'd appreciate it if someone could check my math, so to speak, to see if I'm figuring this correctly?

Purchased a SFH 3/1 for $66,000 with 20% down, 30 fixed, PI $279/mo. Put just under $1000 of improvements before listing. Closing costs $2819. Property values increasing at 6.5% (this is actually low), equity accrual about $800.

Rent $1100/mo., property management 8%, plus first month's rent lease fee; taxes $2200/yr; insurance $710/yr; lawncare $185/yr; contingency 10%.  

I come up with:

NOI $6,629

CF  $3,281

Cap Rate  10.0%

COC 19.3%

Total Return $8,371

Total ROI 49.2%

I realize that the ROI is primarily due to the rapid increase in the value of the property, so assuming a 2% increase brings the total ROI to 31.7%.

Have I got this right?  Is this a typical return for a property of this size and type?

TIA!