Property Analysis Feed Back

[Thomas Jensen]

Hello Everyone and thank you in advance for any feedback provided.  I have found a property I have really grown to like but have held of because I am not sure how well the numbers work.  I have ran the numbers and they seem to work well but would like some feedback and/or opinions.

4 Plex

All 2 Bedroom 1Bath with basement

Asking Price is $225,000

Gross Monthly Rents $2,875

Taxes are $5,500

Insurance $1,200

Tenants Pay all utilities separately

Renter in 1 unit mows the grass and has a lower monthly rent

No work is needed for this property.  It is one of the most well maintained properties you will see.  Not a spiderweb in the place. 

I have ran the numbers different ways.  I will need to finance the property as well.  Looking for anyone willing to run numbers and see if it works for there system.  To me it seems like the deal works well but I want to try and get the property for 200,000 which is what I ran the numbers at. 

Sincerely,

Tom