Am I doing this right ?

[N/A N/A]

Am I doing this right ?

I don't think this deal would be worth it ? Do you ? Am I missing anything here ? opinions welcome ...

Asking price $310,000

Bought 285,000 ( 8% less, 310,000 - 285,000 / 310,000 = 0.08% )

Bought with 20% down 57,000 ( 285,000 x 20% = 57,000 )

Loan 228,000
monthly morgt. payment 1516.88
taxes 300.00 month
insurance, maint, expenses etc.. 700.00 month extra

This property will stand me approx 2216.00 each month

This property will stand me approx 26,592.00 each year

6Units
average unit gets 583.33
monthly rent income 3500.00
yearly rent roll is 42,000
42,000 x 15% vacancy = 6300.00
potential yearly income is 35,700.00

35,700.00 - 26,592.00 = potential profit is 9108.00

cash on cash is 16% ( 9108.00 / 57000.00 = 0.16 )
cap rate 3.2 % ( 9108.00 / 285,000 = 3.2 % )