New Investor Analyze This Deal

[Ovais Zuberi]

Hello, 

Looking for some advice for a new investor. I'm looking at a Fee Simple ownership of a townhouse. The house is in great shape - the current owner was a carpenter and took great pride in his home so very minimal work will be needed on it. I'll get the roof checked out during the inspection.

Here are the numbers:

Purchase Price - $191,000

Comps - $195,000 - $205,000

Taxes - $2302

Insurance - $950

Utlities  - $0 (tenants responsiblity)

Total Monthly  - $1050

Rent - $1650-$1800 - I'm thinking closer to $1,700.

Total cash flow = $650

With vacancy reserves, I'm looking at close to $500 cash flow monthly. These numbers seem to be excellent and want to get some feedback and see if I'm missing anything.