[Calc Review] Help me analyze this deal

[Bryce Davis]

Looks like my offer is accepted on my first rental property. Purchasing out of SD-IRA for cash.

Property has been recently fixed up and rented.  Renter has a 1-year lease through June 2020, at $900 a month.  I'd prefer my property manager bring in a new tenant, but he seems to have a firm hand so hopefully the current tenant isn't going to cause me a real headache.

LINK DELETED BECAUSE IT HAD ADDRESS IN TITLE - Wish BP would let me delete the post and start over (sigh...).

Details: Just under 1k sq foot, current lease is $900 a month, last year's taxes were about $64 per month. Tenant pays electricity, I'm estimating $75 for water (I think that's really high) and $50 for insurance. Figuring 10% for management, and 5% each for vacancy, repairs, and CAPEX.

First year cash-on-cash return is 12.42%

Yes, I could get a better return if I borrowed money, but since this is in my IRA I'd also need to be thinking about UBIT taxes, and my IRAs and 401(k) have not averaged a steady 12.42% return every year, so I'm happy with that.

I know the CALC is not there - but am I missing anything?

[Bryce Davis]

Good point, @Matthew Irish-Jones - it's an estimate based on what we pay for our house, and it may not be realistic.  One one hand, it's for a rental, so I would expect it to be more.  On the other hand, our house value in the Portland area is 7x the value of this property, so on that basis I would expect it to be lower.  I will be getting a quote this week.  Thanks!