3 Family analysis in MA, first property...

[Kyle Meath]

Hello,

This is my first property and I would like to get some input from all of you who are way more experienced than I am. I am looking to buy and hold for positive cash flow. I am a contractor so the repairs and maintenance I will be handling myself.

• Purchase Price: $195,000
• Closing Costs $3,000
• Down Payment(25%):$48,750
• Terms: 30 years 4.75%
• P and I: $763

• Rents: $2700, Annual: $32,400
• Vacancy(8.3%):$2700
• Prop. Taxes: $3,100
• Prop. Ins.: $1,800
• Repairs(Not Much Needed): $3,200
• Utilities(Water, Common areas electric): $1,500
• Maintenance(5%): $1620
• Lawn/Snow Removal: $1200

• Total Operating Expenses: $12,520
• Net Operating Income: $17,180
• Annual Debt Service: $9155
• Cash Flow: $8025
• Cap Rate: 9%
• CCR: 16%

Am I missing anything?

Thank you for your help.

Kyle