What do you think about this deal?

[Kyle Evans]

Hey everyone! Looking at a rental deal in Oswego, IL and would love to hear your thoughts. 

Here are the numbers. 

Purchase: 62k with 3% of closing cost covered by the seller. I'd be putting 20% down, Total cash to close the deal around 13k

P & I: $278/month

Property taxes: Currently around $50/month but ran my numbers at $90/month to be safe

Insurance: $35/month high end

HOA: $215/month

reserves $75/month - All appliances are brand new. It's a small 1 bed unit. Around 600 square feet so should be pretty cheap to maintain.

Total payment monthly: $693/month and the rentals in the area range from $950-1,100 depending on condition. I would rent this out for around $975/month for a monthly cashflow around $300/month. With management in place I would cashflow around $210/month

What are your thoughts? Any of you invest in Oswego, IL currently? 

Thanks!