Wannabe investor here... Please take a look at this rent analysis

[Tom Weyer]

Hey everyone. Don't have enough cash yet, so not doing the deal; but I want to keep practicing my analysis for rental properties. Could someone take a look when you get a chance and let me know what you think of this deal? I developed my own spreadsheet, so I'm trying to copy and paste... forgive the formatting. Anyone interested in my spreadsheet, let me know. I'd definitely be willing to share if I get some good feedback here. Property is in Bayshore, NY

Purchase Price/Offer (Bld: $192,500.00 Lnd: $82,500.00) $ 275,000

Down Payment $ 13,750

Mortgage $ 261,250

Interest Rate 4.25%

Monthly Payment $ 1,286

Closing Costs $ 13,750

Repairs $ 5,000 (probably doesn't need repairs)

Total Initial Investment $ 32,500

Estimated Income

Rent $43,200 (2 units at $1,800/mo each)

Vacancy $(2,160) (5%)

Net Revenue $41,040

Estimated Expenses

Property Taxes $8,694

Property Insurance $1,200

Management $4,320 (10%)

Repairs and Maintenance $3,024 (7%)

CAPEX $3,456 (8$)

Utilities $-

Accounting and Legal $-

Advertising $-

Lawn and Grounds Keeping $- ..... all paid by tenant (Thinking back now, I should probably include this cost for vacancy... Updated the worksheet and even if I end up paying 5%, Cash on cash return isn't terrible)

PMI $2,400

Total OPEX $23,094

Net Operating Income $17,946

Less:Mortgage Payment $15,432

Cash Flow $2,514

Less:Depreciation $7,000

Add:Principal Payment $374

Taxable Income/(Loss) $(4,112)

According to my calculations....

Loan to Value 95.00%

Cash on Cash Return 7.74%

Cash Return on Assets 0.91%

Capitalization Rate 9.32%

Rent Ratio 1.31%

Gross Rental Yield 15.71%