Property Analysis - Rules of Thumb

[Jared W Smith]

Hello all, 

I am constantly running analysis on prospective properties so I familiarize myself with the correct metrics, terminologies and what a deal actually looks like. I know there are several rules of thumb that I've seen sprinkled around forum and are stated on many podcast. Bear in mind I am looking to invest in the NY market.  Should I adjust any of these? 

• Operating expenses (not itemized; excludes debt service/mortgage) = 50-60% of rent
• Down payment (If seeking bank financing) = 25% min of purchase price 
• Closing cost = 2-3% of purchase price 
• Property management = 8-12% or rent
• Vacancy = 8-10% of rent 
• Maintenance = 5-8% of rent 
• Capital Expenses = 5-8% of rent 
• Insurance (multi-family residential) = $75-100/unit/month 
• Income growth = 1-2%
• Property growth = 1-2%
• Annual expense growth = 1-2%

Any insight is greatly appreciated. Thank you all