Do these income/expense numbers work for this 3 unit multifamily?

[Andrew Michaud]

3 unit multi-family. Appraisal value 90k, selling price 70k. 15 year mortgage at 4.5%. Down payment 20% or 14k. Annual mortgage cost $6300.

Rents:

2 bed $600/mo tenant pays electric and heat

1 bed $550/mo tenant pays electric

1 bed efficiency $400/mo tenant pays electric and heat

Annual income $18600

Expenses:

Heat $850

Trash $300

Water/Sewer $1100

Taxes $1900

Insurance $700

Mortgage $6300

Total expenses before repairs/vacancy = $10850

End of year profit would be $7750. Lets take potential vacancy and repairs into consideration.. that would leave me with lets say $5000. Would this be a decent number to make it worthwhile on this property? A big chunk of expenses are coming from my mortgage which I would shoot to pay off the loan asap from other sources of income but disregarding that factor, I am curious if that is a worthwhile number on a 3 unit building. Thanks!

[Ryan Murdock]

@Andrew Michaud Based what you're provided it appears to be an okay deal but I'm not sure how it might compare to other opportunities in that area. Seems that there would be possible deals to be had where you didn't have to pony up the full 20% out of pocket - either because there was sufficient equity in the building or that the seller would be willing to take a second. 

Again, not entirely certain how it compares to other deals in your market which always is a factor for me. "I could do this....but is there a better project to invest in instead....?".