Is this a good seller financing deal?

[Stephen Jones]

Good Morning BP,

I have a seller financing deal in place on a 6 plex property that I'd like your opinion on. Here are the terms:

     -washer/dryer hookup

     - 1 Bedroom/1 Bathroom 

     - Roughly 550 Sq Ft.          

Purchase Price- 290,000.00$

Yearly Rent Roll- 42,840.00$

Yearly Expenses-

Trash-1200.00$

Tenant water- 2800.00$

Taxes- 4700.00$

Insurance- 2000.00$

Seller Financing terms- 

10% Downpayment

3 year balloon

25 year amortization 

5 % interest rate

What does everyone thing? Should I try and re structure this? Or do you think this is a decent deal? Thanks!!

[Marcus Auerbach]

Make sure the value is right. If someone is offering seller financing it is often to compensate for something else. 

So, what is the catch? Ugly house, bad location, over value?