Buying a 2 family investment property with only 1 gas line

[Petya Toncheva]

Hello all, I am running numbers on a 2 family and the upside is that it cash flows well, the down side is the owner pays gas and electric. I am looking to buy this as an investment property only. I will rent out all units. Please feel free to poke holes in this deal. I would appreciate it. 

Heres the deal: 

Field Card info: "Unique two family with an accessory apartment. The front apartment has LR, EIK and room with closet which can be a bedroom or dining room as well as a half bath/laundry room on the first floor. Enclosed front porch. The second floor has two bedrooms, a full bath and large storage area. The second apartment is very bright. It has a large living room, kitchen, bedroom and full bath. In addition there is an accessory apartment in the basement which has an entry from the rear. Lots of storage in the basement. The yard is partially fenced in. "

• Asking $491,000

• Closing costs  $9,820

• Down payment 25%  $122,750

• Interest rate 7.625%

• 30 yr loan

• 1 point on the loan

• rental income $4650

• Property Taxes $620 monthly

• Home insurance $166 monthly

• Repairs aside 2% $93 monthly

• Capex aside 2% $93 monthly

• Vacancy aside 2% $93 monthly

• Owner pays utilities (gas, electric, water) , Still waiting to find out the numbers from the seller. For the sake of the property analysis, I am put aside $333 monthly

• Cash flow, monthly $645

So the pros are that it cash flows and the neighborhood appreciated well. The cons are that while the listing says it has an accessory dwelling unit, it is really is a finished basement, they currently have a tenant in there at $950 monthly. 

What does bigger pockets think...................

Looking forward to your reply.