Rental deal or no deal

[Hemant Bhagwat]

Hello folks

This will be my first deal! Still learning a lot of concepts, ratios, etc. This fits in 1% rule but not 100% confident. Here are the details:

3Bd/ 2 bath SF house in a community close to businesses and malls. Looking to hold for about 5 yrs.

Purchase price - $61,000 (Market value about $82,000)

Initial investment - $4,000 (paint/ repairs/ appliances)

Rent - $825/ month (based on recent comparable rentals)

Taxes/ insurance - $133/ month

Property Mgmt - $82.5/ month

Paying cash and will re-fi in 6 months.

Thanks

Hemant