Please Help Anaylze This Deal - Currently in Escrow

[Mary White]

Okay, so we're in the process of completing our first 1031-exchange and we found a 4-plex property in the nicest rental area of our small college town. It's in excellent condition with a 50 year roof (28 years left) and very minimal repair needs. It also attracts very good tenants that stay for long terms. We're nervous about the purchase and afraid of buying high. This property is currently ready to close, but I'm not sure if the numbers are great. There is not much value add that can be done. Does anyone have advice on this/thoughts?

Purchase Price: $315,000

Closing Costs: $11,000

Down Payment: $78,750

Monthly P&I: $1304.58

Repairs: $150

Vacancy: $90

CapEx: $30

Garbage: $70

Water: $200

Property Taxes: $375