Fullerton Investors, quick opinion please?
4 bdr house with 2 bath, remodeled kitchen, no major damages or repairs
in Fullerton
Sqft: 1377, 6018 lot
Purchase price: 460,000
Closing cost: 13800
Down payment: 92,000 20% down
Monthly mortgage: 1864.60
Rent income: 3000
Property taxes: 421.67/month
Insurance: 100/month
Vacancy: 100/month
Capex: 150/month
Total expenses: 805
Financing: 1864
Income: 3000
Cash flow:~330
ROI:3.74
So this is just me practicing for a property in Fullerton. I am not more concerned with the profit (low ROI here) but more concerned with if I accounted for everything, or did I underestimate something?
Just want to know from you guys now so I don’t do it in an actual deal. I found a similar house with 4 bed on Craigslist that was renting for 3200 so I put 3000 to be safe. Do I need to account for repairs if everything has just been remodeled, or can I let the capex handle that?