My neighborhood is quite established and is currently experiencing a growth spurt with a large mill being renovated to apts and retail, at least 2 other large scale apt/condo projects under construction.

The utilities / street's are done / plans are included for 8 additional units on the vacant lots.The seller's bottom line is $1.25 m for property with 0 help to closing costs.

Month-month leaseEach unit is individually metered and tenant pays utilities except for the following:Electricity for section 8 tenant only (2,100/yr)Water + Sewage for entire house (1900/yr)Property Taxes: 7,808Insurance: 1,500 per yearSummary: (annual basis)Rental Income: $37,260Operating Expenses: $13,308 (35.7%)NOI: $23,952Mortgage 30 yr @ 5%: $10,307Net Income: $13,645 $4548/UnitThe following expenses were receieved from the owner.

This is a commercial lender (not using GSE underwriting) where we have established relationships.So, to answer...

But that area is well established and in a good school district.

.$1300 in Rent against the following expenses on your original numbers:Mortgage Rate 5.00%Length of Mortgage in years 30Monthly Mortgage payment $643.78Taxes $150.00Sewer and Water $-Trash $-Heat/Utilities $-HOA $-Cap Ex and Ops $150.00 (this is a bit higher than your number, but not major in terms of the entire deal, and yes, it is a realistic number)Insurance $100.00Mgmt Fee $-Vacancy $104.00Total Expenses $1,147.78

I own and rent out a SFR that brings in brings in $300 after utilities and mortgage/taxes/insurance.

The occupied units, though paying market rents, were bleeding the firm with various utility costs (ie. $11k in fuel expenses last year on a 3 unit, 5 BR building grossing $27k.

Is it fully developed with roads and all utilities in?

A better approach would be to list ALL your monthly expenses minus housing costs (rent, utilities) and see where you are at with income vs. outgo.