Help Analyzing Buy and Hold Deal - Only my second deal

[Robert DelVecchio]

Good morning everyone.  I'm interested in your thoughts on a town home I made an offer on.  The seller has it listed at $155,000. I put an offer in for $145,000 and the seller pays 2% of the closing costs.  The seller said my offer was offensive btw.  

Here are the numbers ran at $150,00 which is what her counter offer is and with a interest rate of 5.5% on a conventional 30 year loan.  

Cash on Cash Return - 10.19%

Thanks in advance for your thoughts - Robert

Return (IRR): 11.73% per year Total Profit when Sold: $217,855.15 Cash on Cash Return: 660.17% Capitalization Rate: 7.69% Total Rental Income: $471,420.00 Total Mortgage Payments: $245,284.85 Total Expenses: $125,280.00 Total Net Operating Income: $346,140.00

First Year Income and Expense Monthly Annual Income: $1,350.00 $16,200.00 Mortgage Pay: $681.35 $8,176.16 Vacancy (3%): $40.50 $486.00 Property Tax: $102.17 $1,226.00 Total Insurance: $62.50 $750.00 HOA Fee: $166.67 $2,000.00 Maintenance Cost: $16.67 $200.00 Cash Flow: $280.15 $3,361.84 Net Operating Income (NOI): $961.50 $11,538.00