Thinking of buying a fourplex...deal analysis

[Linda Forrest]

Hi everyone!

I am considering buying a fourplex in Dallas area, asking price is 300k, all units are currently occupied in a good condition. Rents currently total 2900 a month but could reach 3600 by looking into the other comparable units around. If i use a HML with 7.5% and 2 points. He is willing to fund 75% of the deal the rest is on me. Please let me know your thoughts whether this sounds like a deal or not. Thank you!