Would you go for this deal?

[Amit Chaudhari]

Long time lurker here. Want to begin my real estate investment journey starting this year. Please help me evaluate this property that came along my way this week.

Property description:

Multi-unit property in a college town (Syracuse University campus). One of a kind property in an area with high

The numbers:

Cost: $515,000

Number of units: 8

Number of rooms: 10

Monthly rent: $5,950 ($71,500/yr)

Annual taxes: $13,000/ yr

Insurance: $2,400/ yr

Common space electricity expense: $800/yr

Assuming yearly repairs: $7500

Assuming 5.5% mortgage interest: $25,000

Total cash flow: $71,500 - $48,700 = $22,800 ($1900/ month)

Please advise.