Seven Plex Analysis - My numbers are off?

[Brandon Davis]

Okay guys,

Looking at my second deal for a 7 Plex. I analyzed this property with the Rental analysis and I feel like my numbers are way off, so I want to see what you guys come up with.

Specs:

7 units with 1 vacant.

3,335 in gross rent with 6 currently

Property Tax : 3891

Insurance: 1656

Repairs/Main: 4190 

Water: 3000

Dumpster: 1200

vacancy 10%

Cap Ex: $333 (too much?)

Asking Price : $425000 ( I think my offer should be 300,000 range based off of cap rate of 8.45 and noi of 18053)

Cap rate 8.45

Thoughts?