Other than whats already been said, I don't think you're real far off. A few things I've been doing different (right or wrong, I'm also new) I get rents from my agent who is also a PM which I feel are better than my guess. I also factor in increases in maintenance and rent for sure. Raising rent over time will help your long term numbers. Looks like you're planning to play the long game so annual increases will be important (if the market allows). I've been focused on the cash flow now with the intent to 1031 3-5 years down the road into something bigger. Setting the vacancy to 3% will help and seems to be accurate. Closing costs look a bit low but that depends on lender and deal I suppose. My lender caps the sellers contribution at 2% so I'll always be paying at least 1% is my understanding. Value after repairs is something I think I need a lot of work on so no clue if that number is accurate or not. Comparing to like properties is probably a good start. 1% appreciation also feels low. Not sure how you got to $2500 for other expenses but I've been breaking down every expense (water/sewer, trash, etc.). I'm also looking at multi-family so I expect I could be paying those. Be sure to check the county website for taxes. Just looked at a four-plex that the listing showed a number for taxes but there was a $1400 increase coming in 2019 for some reason or another not shown in the listing. I assume the number will also change if the purchase price is much higher than the assess value from the county.
