Deal analysis in Lubbock, TX
HI Bp,
First time investor here. I have a sfh in Lubbock Texas. So I would like to run it across people in Bp to get some opinion. It is a brand new sfh for 327.9k with tenants in place. The neighborhood is Quaker ave and 130th street.
Down payment - 65580 (20% down)
closing cost - 4000
total cash investment - 69580
rental income - 2500
tenant pays all utilities (electric, garbage, water)
vacancy - 4% - 100
management fee - 5% - 125
repairs/maintenance - 4% - 100
insurance - 110
property tax - 450
mortgage - 1215
total expense - 2100
Cash flow - 400 / Month
CoC = 6.9 %
Does my calculation make sense? If so, is it an good/ok/bad deal? Thanks!