new guy looking at first possible deal

[David Savoy]

I found a 4 SFR opportunity, but am not comfortable with my math yet in evaluating whether or not it is a good deal. All the homes are 3-2's and total monthly rental income $4,155. Asking price is $400K and stated CAP rate is 14%. Comps show all these homes valued in the $100-125K range. Can someone help explain the best way to evaluate something like this? I plan to ask for Comps and P & L statement, but if anyone has a process for evaluation they would share I would be very grateful.