Need Help Analyzing 3 Duplex Deal

[Daniel Highsmith]

I found 3 duplexes for sale, all from the same owner. I tried running the numbers but i'm confused about where to put CapEx in the spreadsheet. Is it part of monthly expenses (budget)? Or do i calculate CapEx after the NOI? Here's what i have. Any help is much appreciated!

Property Address	123 Main Street	Asking Price	$319,000
Description	3 Duplexes (6 Total Units)	Down Payment	63,800
		Mortgage	1218.37
INCOME	Description
3 Duplexes		Rent
Unit1		550
Unit2		550
Unit3		550
Unit4		550
Unit5		600
Unit6		600
Gross Scheduled Rent	3400/mo	40800/yr
Vacancy		7%	2856/yr	(40800 X .07)
Gross Operating Rent		37944/yr	(40800 - 2856)
EXPENSES
Insurance			2550/yr	(850 x 3 buildings)
Taxes			2217/yr	(tax records for 2015)
Repairs			2040/yr	(40800 X .05) Best guess
Property Management		4,488/yr	(40800 X .11) 11% fee
Water Utilities			3600/yr	(Owner pays water)
Lawn Care			2000/yr	(200 X 10 months)
Total Operating Expenses		16895/yr
Net Operating Income	21049/yr	(37944 - 16895)
Mortgage			14,621/yr	(1218.37 X 12)
Cash Flow			6428/yr	(21049 - 14621)
Cash on Cash Return		10.07%	(6428/63800)