Please comment on this rental deal.

[Tarun Kapoor]

Please help a newbie out. I am finding bp as a great source of information so far and trying to take the next step in becoming a landlord. These are the numbers i get running through the deal spreadsheet. Thanks in advance everyone!!!

Purchase Price: $149,500
Initial investment (20% down + closing costs): $36,300

Gross Operating Income : $16,500
(include 1 month vacancy)

Total Operating Expenses: $5,050
(include taxes, hoa, insurance,
maintenance of 1500/yr
as property is quite new)
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Net Operating Income: $11,450
Annual Debt Service: $-6,634

Cash Flow Before Taxes: $4,816

Ratio Information:
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Loan to Value 78%
Cashflow / Initial Investment 13%
Cashflow / Assets 3%
CAP Rate 8%