Help Analyze First Deal-4plex

[Craig Parnacott]

Please help with analyzing my first possible deal. Please take a look and let me know what you think, my goal would be to purchase somewhat lower than the ask but I wanted worst case scenario so I used the ask price for the analysis. Thanks for the help and let me know if I am missing any necessary information.

4-unit building all 1 bed 1 bath and all currently rented.

Ask Price: $60K

Downpayment: $15K

Finance: $45k for a term of 30yr

Current rent is $450 per unit (all units currently rented: $1800/month gross)

Owner paid utilities per month: $282.00 (gas, water/sewer, trash, common area electric.)

Taxes: $1635/yearly

Insurance: $706/yearly

Approximate Mortgage payment: $398 includes taxes and insurance

Possible property management: $300/month for the whole building