[Calc Review] Help me analyze this deal
So I've been doing the rental calculator for houses in the Des Moines, IA area, for houses that I am looking at to purchase soon within the next 1-2 months after my lease for my apartment is up. I just want some extra input with how I am analyzing these.
Fist off, I know I am showing a negative cash-on-cash right now because I want to buy a house and then have a roommate to help pay the mortgage. Now I chose $800 because on craiglist that is a little above some other houses i've seen on there advertising one room for rent in a house, but it's around/below normal apartment rent prices. Is $800 still too low? Should the price be increased even more? I notice a lot of apartments have around $750-$1000 per month for rent in the Des Moines, IA area.
Now, I calculated the landlord expenses from a website where it took numbers from across Iowa and showed how much the average is, and then I split it in half so I pay half and the roommate pays half. I calculated the ARV by taking the purchase price and then used the percentage that zillow expected the house price to increase in the area the house is located in.
Other than that I've been using numbers/percentages that the calculators suggest is the average price.
Just looking for some extra feedback since I am still very green with this. Thanks in advance for any suggestions/tips
*This link comes directly from our calculators, based on information input by the member who posted.