Possible deal

[Vinet Fils-Aime]

Should I purchase this one or not?

Asking price: $249,000.00 owner financing with 50% down for 3 years at a rate of 5.625%

Total number of units: 4 all two beds one bath and all fully rented out

Cap rate: 9%

Monthly gross income: $3,275.00

Expenses:

Tax: $5,658.37 /12 = $471.23

Insurance: $5,513.27 /12 = $459.44

Pet control: $120.00

Landscaping: $80.00

Water: $202.00

Maintenance and repairs: $3,275.00 * 15% = $491.25.00

CapEx: $3275.00 * 12% = $393.00

Mortgage payment: $713.81

Total Monthly Expenses: $2,930.73

Cash flow: $3,275.00 - $2,930.73 = $344.27

Cash on cash = $344.27 * 12 / $125,000.00 = 3.30%

Please advice