[Calc Review] Help me analyze my practice!

[Alexander Stromberg]

My parents were preparing to sell their home in Bridgewater, Virginia, so I decided I'd run an analysis on it to determine if it would cashflow if, instead of selling, they rented the property out. These are the numbers I got estimated for it. Would anyone mind weighing in and letting me know if my estimates are good?

It's technically two single family homes on the same lot of land, but they cannot be separated into two parcels because they are too close together.

https://www.zillow.com/homes/for_sale/218610897_zp...

This is the listing for the house. The mortgage with taxes and insurance is $1322/month.

Comparing similarly sized 2 bedroom SFHs for rent, I came up with $0.81 to $0.89 per square foot for calculating rental income. I used the $0.81 for my rental calculation, and rounded up to 2000, due to the fact that its located a bit farther away from the primary rental markets, as it used to be a farm property back in the day.

Capital Expense	Total Replacement Cost	Lifespan (years)	Cost per Year	Cost per Month
Shingle Roof	$5,000	15	$333	$27.75
Metal Roof	$13,200	36	$366	$30.50
Water Heater	$1,200	3	$120	$10.00
All Appliances	$2,000	10	$200	$16.67
Driveway/Parking Lot	$100	1	$100	$8.33
HVAC	$3,000	10	$150	$12.50
Split HVAC	$3,000	4	$750	$62.50
Flooring	$2,000	6	$333	$27.75
Plumbing	$3,000	15	$200	$16.67
Windows	$5,000	10	$500	$41.67
Paint	$2,500	5	$500	$41.67
Cabinets/Counters	$3,000	10	$300	$25.00
Structure (foundation, framing)	$10,000	30	$333	$27.75
Septic System	$2,500	24	$104	8.67
Components (garage door, etc.)	$1,000	10	$100	$8.33
Landscaping	$1,000	10	$100	$8.33
TOTAL	$57,500	--	$4,459	$365.39

I'm estimating 1% of the property value for general maintenance, an 8% fee for property management, and an 8% vacancy rate. The totals come to:

Expenses
CAP EX	$365.39
Property Management	$160.00
General Maintenance	$237.50
Mortgage/Insurance/Taxes	$1335.00
Vacancy	$160
TOTAL	$2257.89

Income
2 Bed 1 Bath	$900
2 Bed 2 Bath	$1,100
Total	$2,000

Which would indicate a loss of $257.89 per month. Are there any expenditures that I left out? Am I over- or underestimating any of the costs? Is it likely that I could achieve a higher rent? I've also considered looking at it as an Airbnb property, but my education on that has been minimal at best so far, and I am unsure how successful it would be. To my understanding, there are a large number of wineries within an hour of the location, which may make it a desirable short term rental for vacations or romantic get-aways.