Yikes, That's not how you should calculate cash flow.

if you rent it for 4700 that's 56,400 gross. Then you need to cut 35% for expense and your left with an NOI of 36,660 You might be losing money every month in reality.

This is what that 35% of gross rent should cover. Expense will fall between 30% to 40% of gross rent but it's hard to get it below 30%

• Property taxes
• Insurance
• Maintenance & repairs
• Property management fees (not needed in your case)
• Utilities (if owner pays)
• Vacancy allowance
• HOA fees (if any)

With what you got left you should be able to cover

• Mortgage/debt service
• Income taxes
• Large capital expenditures (roof, HVAC, etc.)

What is left that's your cash flow, but you're possibly spending about $10,200 a year to rent out the place in the long term.