- Is this SF or MF?
- Do you plan to owner occupy?
Regarding your expenses:
- Repairs and CapEx are low. I figure 15% combined.
- Vacancy might be a touch low. I usually use 8%, but this is super local.
- Management will likely be 10-12%.
- What about water/sewer, lawn care, snow removal, or any other house utilities?
- Doubtful that you're getting 4% for 30 years on an investment property. Maybe if it's owner occupied.
- Are you purchasing with cash? If not, you'll have to figure some debt service on the initial purchase/reno.
I don't see this cash flowing more than ~$50/month.
@Michael Roblee . I agree with the previous poster, your expenses are too low. Property management will be 10% minimum. Cap ex and repairs and vacancy are all too low. Should be between 7-10%. If I were you I would be conservative withe these estimates so you don’t get surprised.