$400,000 4plex in Escrow! Good Deal or Bad Deal?

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Hi, 

This is my first post on Bigger Pockets and I'm excited to be part of the Bigger Pockets community.

I'm a new investor and have zero hands-on experience in multifamily properties. I've read a few real estate books and watched countless BP podcasts. I'm currently in escrow on my first 4plex multifamily deal; it's closing in less than 15 days! I'm excited and nervous at the same time! 

The property is built in 1980 and is located in Bakersfield, California. It is in a C+ neighborhood and is at 100% occupancy. It is being sold at a 8% cap rate. Each unit is rented for $900 (market rent for the area is $950-$975). The property is in need of a new roof soon and minor repairs (inspection completed/roof should last a few more years). There is some termite damage to one wall in one unit (repair cost $600). I would appreciate some feedback on the deal and any ROI calculations after factoring in costs for property management, maintenance, gardening, utilities, repairs, etc.

Here are the numbers. What do you guys think? Thanks in advance!

Built: 1980

Type: 4 Unit Multifamily (3 bedroom/1 bathroom)

Purchase Price: $400,000

Market Value (appraised): $400,000

Down Payment (25%): $100,000

Loan Amount: $300,000

Interest Rate: 30 Year Fixed 5.0% (5.074% APR)

Principle & Interest Payment: $1,610.46

Property Taxes / Insurance : $645

Estimated Closing Costs (1 time): $10,307

Lender Credit: ($1,375)

Total Cash Needed to Close: $108,932

Total Monthly Payment: $2,231

Monthly Rent: $3600