I use $50 per month per rental unit for water.

Bristol is a very nice small city- located on the edge of going rural, but not convenient to the highways- decent taxes, good water bills, and the town government is ok. 

I am trying to know if this value would further jump if I buy the property and make some improvements like paint, flooring, water heater, adding GFCI outlets etc.I already see this value jumped between 2020 and 2021.

It does not have county water or sewer meaning, we have to dig a water well system and build a septic. 

As seen in the report, I am charging utility outside of water and garbage to the tenants and about a 7% average for vacancy, maintenance and cap X with a 25 allocation each month as extra.

When the Fed increases rates to 6%, cold water will be thrown on this hot market.

I tried to do everything and after a couple shocks and some water damage I learned my lesson.

Worst case, I can replace an HVAC and water heater in the same timeframe.

It is relatively well maintained and owner changed the roof in 2011 and water heater in 2020. 

This past summer the next-door neighbor had a plumbing repair (that was not HOA approved) and his "workers" did not turn off the water main.