Newsflash: Boston Multifamily: Please challenge my investment assumptions

I’ve built myself an excel model to mimic the NYTimes Rent vs Buy calculator for an owner occupied multifamily home. The intent is to say how much better is purchasing a property vs continuing to rent my current apartmentI know its not perfect and doesn’t really account for vacancy or risk, though vacancy is easy enough to account for by just reducing the rental income. My rental income (and current rental costs) are incremented monthly rather than yearly.Below are my assumptions. If people could challenge them for an upcoming offer, I’d really appreciate it.My income is $104k and I have 0 debt.My current apartment is ~550 sq feet and i would be moving into a ~1000 sq ft apartmentThe property is a 2-family in the greater Boston area with each unit as a 2-bed/1-bath.Mortgage & LoansDown Payment & Closing: $110,000Lost money (fees inspection): $8,000Down payment: $102,000Home Value: $680,000Mortgage amount: $544,000Mortgage Interest Rate: 4.33%HELOCHELOC Amount: $34,000HELOC Interest Rate: 5.11%HELOC Payoff Time: 120HELOC Payment: $362401K Loan401K Loan Amount: $20,000401k Loan Rate: 5.00%401K Loan Payoff Time: 120401K Loan Payment: $212Monthly PaymentsMonthly Mortgage: $2,644Property Taxes: $568Homeowner’s Insurance: $113HELOC Payment: $277401k Loan Payment: $212Monthly Total Escrow: $3,814Property FactorsMonthly Rent income: $1,800Rental Income Increase: 2.00%Monthly utilities: ~-$100 (increase in utility costs from renting)Monthly Maintanence: -$550Extra $ from tax advantages: ~+$300Current RentCurrent Rent: $950Yearly Rent Increase: 2.00%Market AssumptionsInvestment Return: 7.00%House Appreciation: 2.00%Calculated amount I could invest if I didn’t purchase the house (delta not absolute)Monthly Investment: $1500

Read more at https://www.reddit.com/r/RealEstate/comments/6iig2c/boston_multifamily_please_challenge_my_investment/?utm_source=ifttt

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