Running numbers for rental property
Hey BiggerPockets community
I am currently looking for my first investment property in Marietta, GA. With all the uncertainty going on and this being my first deal, I wanted to make sure the numbers made since. I am looking for any advice or input on running numbers and if I might be over looking something.
Income- I mostly consider average rent for the size of the property I am looking at. I usually find these numbers on rentometer or the average rent for the area on Zillow.
Expenses-
Taxes- the most recent tax information included on the MLS
Insurance- I usually just say $100/month
Utilities/ Lawn maintenance- I would prefer to structure the lease where this is the renters responsibility.
HOA- whatever is listed on MLS
Vacancy- I consider 5% of monthly rent
Management- 10% of monthly rent
CapEx/ Repairs- I normally round to $200
Mortgage- the monthly payment for whatever I am offering and the interest rate my lender has me approved at.
If this seems correct, awesome. If anyone thinks I’m overlooking anything or could find more accurate answers please let me know. Once again any advice is appreciated! Thanks I’m advance