Current Rental Income:     $7,140/mo = $114,240

Less Vacancy:                                               7,997

Effective Rental Income:                         $106,243

Operating Expenses:

Annual taxes:                              5,744

Property Insurance:                     4,872

Repairs/Maintenance/Utilities:   14,440

Accounting/Legal:                           700

Licenses/Permits:                             84

Advertising:                                  1,920

Contract service, Lawn:               1,200

Contract bug treatment:                  960

TOTAL OPERATING EXPENSES:              29,920

NET OPERATING INCOME:                       76,323

NOTE: 

Other expenses could include leasing commissions/management fee

700 - 900/month (if so NOI = 65,523 worst case)