Updated about 7 years ago on . Most recent reply

Could be a good deal? Math Game!!
Dear all,
I´m looking for my first deal, I mean a 3bed house around 80m2 in south Spain (El Puerto de Santa María) where i live, 40.000€-70.000€. I would like buy and hold for rent, and the numbers are:
Purchase Price: 59.900€
ARV: 70.000€
Closing cost: 8.000€
Rehab: 2.000€
Annual Taxes: 480€
Down Payment: 30%
Loan Interest: 2.6%
Years: 30
Gross Monthly Rent: 450€
Monthly Insurance: 65€
Other Monthly Exp.: 20
Vacancy: 5%
Rep. And Maintenance 5%
Cap. Ex.: 5%
TOTAL: CASH FLOW= 90€ ROI =7.73%
As I looking for at least 100€ Cash Flow or ROI=10%, I will offer 55.000€, that means Cash Flow= 103€ and ROI= 8.31%
All your comments are wellcome!!
Thanks in advance for your help