I keep getting negative CoC in my model, am I totally wrong?

[Hernan Guelman]

I keep getting properties from my agent in Austen area. I keep plugging the numbers and it is a blood bath.. it is so wrong, that I am thinking that I am doing something really wrong. Is it me or is it that retail prices in Austin are THAT bad? 

Here is an example: 9940 Milla Cir #24 Austin, TX78748 

Interest Rate:	4.25%
Down Payment:	25%
Loan Term:	30
Closing Cost:	$ 4,000

Rental Income (m):

$2,000

Property taxes (m):	$ 353
Insurance (m):	$ 179
HOA:	$94
Management fee (%):	8%
Maintanance (%):	5%
Appreciation (%):	1%
Vacancy (%):	5%

I also account for filling fee (70% of rent once every 3 years). 

I get CoC: -1.5%... in other cases I get at best a positive 2% CoC... anyone can tell me if I am doing it wrong? I cannot be THAT off can I? how can anyone make investments if these are the numbers?

Year1
Gross income	$ 24,000
less vacancy	$ 1,200
Total Operating income	$ 22,800
Prop Taxes	$ 4,237
Insurance	$ 2,145
HOA	$ 1,128
Maintanance (from gross income)	$ 1,200
prop management	$ 2,387
Total Operating Expenses:	$ 11,097
Net Operating Income (NOI):	$ 11,703
less mortgage expense:	$12,835
Annual Cash Flow:	$ (1,132)
Monthly cash flow:	$ (94.34)