4plex in Milwaukee - Input Needed

[Tiffany Bishop]

Looking at a brick 4plex in Milwaukee.  It would be my first out of state investment and I am wondering if it is too much to take on (because of possibly being in a higher risk area).

It is in zip code 53205 right on the border by 53208 and 53233 (just south of James Groppi High School).  The seller described the neighborhood as B class with a large Asian population.  The duplex itself is very old (100 years old I think).  Rehab was done in 2013.

Below are the details:

Purchase price: $125k

Monthly rents: $2100 (4 2bds/1 ba all renting at $525)

Haven't decided yet if we would pay all cash or use a private lender but if we use the lender our PITI would be about $950. Using cash would leave $350 for Taxes and Insurance.

Maintenance (10%): $210

Vacancy (10%): $210

Management (10%): $210

So if we leverage our money, we are looking at about $520 CF/month.

All cash we are looking at $1120/month.

Do those numbers look right?  My biggest question is how locals view that area.  

Thanks in advance for any input!