Analysis check for triplex first purchase

[Matt Albright]

Looking for some insight on my first investment property.
Things to consider:
Peak market. The property will likely not be more valuable that it is now.
Intended purpose of the investment is for cashflow and long term hold.

The basics of the listed property are:
Listed at peak value ($110,000)
3 Units:
2 bed 1 bath occupied and renting at $800
1 bed 1 bath occupied and renting at $650
1 bed 1 bath occupied and renting at $650
Total rent income: $2100
Conventional financing at 20% down. 15yr/30 baloon.
Owner expenses (insurance/utility/taxes/Etc.): $7600k/annually
After putting away for vacancy/cap exp/management exp/repair/maint. I'm coming up with Total operating exp: $1557/mo
Positive Cashflow: $540/mo
2% Test is at 1.8%
Cash on Cash ROI: 20%
Thoughts? Am I missing anything?

[Matt Albright]

Thanks for the reply's. With my limited knowledge, I would consider this a C neighborhood. Definitely not D, probably not quite B. 
Downtown environment, 1 block off a college campus. Verified numbers and verified expenses from Sch E docs.