Rent Vs Buy: Strandfontein - Where? How Much?

I have no idea where Strandfontein is, what I do know is that this 6 bed(!) house has a terrible rent/price ratio. It's on sale for R1 499 000 and has a 'potential rental income' of R6 000 a month. If you took out a 100% bond the difference between the rent and the bond payments is more than double the rental itself.

Down Payment	Monthly Payment	Cash Flow	Annual Income	ROI	Cap. Appr. Required
R0	R19187.17	R-13187.17	R-158246.00		10.56%
R149900	R17268.45	R-11268.45	R-135221.40	-90.21%	9.02%
R299800	R15349.73	R-9349.73	R-112196.80	-37.42%	7.48%
R449700	R13431.02	R-7431.02	R-89172.20	-19.83%	5.95%
R599600	R11512.30	R-5512.30	R-66147.60	-11.03%	4.41%
R749500	R9593.58	R-3593.58	R-43123.00	-5.75%	2.88%
R899400	R7674.87	R-1674.87	R-20098.40	-2.23%	1.34%
R1049300	R5756.15	R243.85	R2926.20	0.28%	-0.20%
R1199200	R3837.43	R2162.57	R25950.80	2.16%	-1.73%
R1349100	R1918.72	R4081.28	R48975.40	3.63%	-3.27%
R1499000	R0.00	R6000.00	R72000.00	4.80%	-4.80%

A sub 5% yield if you pay in cash and that's excluding rates, levies, maintenance and vacancy. You'll break even on cashflow with 70% downpayment and with a 50% downpayment you still require nearly 3% in capital appreciation to not lose any money.