Is this a good deal? 14 unit apartment in Atlanta

[Matthew Von Dwingelo]

I’ve got an apartment complex that we’re under contract on right now - I think it seems like a deal but this is my first time actually looking at purchasing an apartment and valuing it. Hoping some apartment investors can help me out here. 

Currently the property has 1 vacant unit out of 14. The other 13 are rented for about $500/unit. 

Units are all 2/1 500sqft - I’m estimating market rent is $1200 per unit. 

To be able to raise rents to $1200 per unit I’m estimating $40k in reno per door. Total of $560k. 

Is this a deal at $1.1MM? If there’s more info y’all need to help with this please just ask away.