IRR with little to none cash flow

[Justin Kimmet]

2 bedroom 1 1/2 Bath Townhome

1100 SF

Purchased property for $83,500

Closing/repairs : $8,000

ARV : $105,000

Rent : $895 per month

(2% Rent growth, 3% appreciation)

Loan : 15 year, 15% down 5.75% Interest rate fixed conventional

1st Year (IRR) 98.60%

Cash flow $295 (Annual)

15th Year (IRR) 17.20%

Cash flow $2,205 (Annual)

30th Year (IRR) 13.98%

Cash flow $11,748 (Annual)

Purchased property at 18 years old, currently 20 and ready to buy second.

Could of cash flowed more if I did 30 year loan, but would like it paid off in 15 years.

Going forward should I try to cash flow more? Or stick with 15 year loans.... or should I do every other 15/30

Thanks for your time, Justin

[Justin Kimmet]

@Jaron Walling

I have figured 3% vacancy, rent is increasing 2% every year and 3% appreciation.

Property Tax: $1300 per year

Insurance: $800

$750 set aside for repairs every year

Good school district and growing area