I don't see colocation charges in there, unless you were planning on running your 'server' out of your house on a residential internet connection (that probably has restrictions on acceptable use.)

By the time you spec out a real server (redundant power, higher quality components than Newegg stuff), rent some space in a rack, pay for bandwidth (50Mbps is going to be about it without paying a premium), you're going to be looking at $5000 + $300/m. All that effort, whereas you could spin up something in the cloud for a bit more per month.

This does flip quickly, however. Once you get into the high 5-figure monthly spend, running your own hardware makes sense again. DHH's blog posts on 'Leaving the Cloud' are a great read.