Gross Rent $1,900.00Mortgage (P&I) $604.00 Property Taxes $276.00 Insurance $75.00 Maintenance $190.00 Cap Ex $95.00 Management Fee $79.00 (This is a GREAT price on a $1900/mo rent.

Ideal locations are neighborhoods near downtown (Central District/Cap Hill, North Beacon Hill, West Seattle, North Seattle, etc.)My work background is in the project management side of the construction industry.

Using Cap Ex of $200 per month(seems low but total house is getting redone) other Misc repair and Maint $30/mnth 5% vacancy rate of $154/mnth I am looking at $400 per month without refi and $200 per month after refi. 

Given that you owe 135K, the HELOC would cap out at 5K.  

I'd be interested to hear what cap rate everyone come up with. 

If you track yields and cap rates as well as grm and noi/unit you will get a better feel for where the market is and is going.

Question about neighborhoods, love Andover and some of the recent developments and it has all the amenities near by but we just don't get as much of a home as we would in say Maize or Derby, any near by neighborhoods close to Andover with a little more bang for the buck?

@Wesley Wong if you consider a condo be sure to check on rental caps.

The building is cash flowing well and I have found inefficiencies which will increase the cap.  

If it's vinyl there will be lower maintenance but check to see that all of the windows are capped and that they are caulked properly so that no wood is showing. 6.