First Rental Property HELP

[Isaac Braun]

Hello Bigger Pockets Friends! 

I have been reading forums and listening to podcasts for months, and I am now taking action! I just want some feedback on my first deal that I am working with. On this particular property,3 bed 2 bath, single family. I am still under negotiations but so far I have negotiated the purchase price to $57K. The taxable market value according to the county assessors office is $74500. There are about $5000 dollars in assessments on the property for recent street and water main work. I am working in negotiated these as seller paid, but I may not get them. Rent comps are $900-1000. Taxes with assessments are $1822/year. The property looks to have fairly new siding and roofing. I would clean up the landscaping, pick up all the leaves, trim bushes, pull weeds etc. I would definitely paint the interior to freshen it up and consider new carpet and kitchen flooring. Other than that, it should be ready to rent. My PITI for this purchase will be approximately $441/month. Assuming 900/month rent and 200/month for Capex and repairs. Thats 259/month cashflow with 27% Cash on Cash return. Am I calculating these numbers correctly? AND how would I go about calculating what the ACTUAL market value is, and not rely on the county assessor numbers. Current fannie mae rule is 6 month seasoning for Refi. I would like to cash out refi my initial investment. Please Comment!! Thank you!