Closing on a Multifamily property Hammond Park area (SW) Atlanta

[Ekene Nwobodo]

Hello All,

I got a deal for a multi family home which has 6bds, 3baths for $215k near Hapeville GA/Hammond Park close to the ATL airport. Each unit has 3 beds 1.5bath currently renting at $1050 a month with tenants currently in them. This property was bought 2 years ago for 80k and rehabbed and now being rented out. This is my analysis on the property below:

Every thing below is per month:

Rent: 2100/month

Mortgage: 1003

Insurance: 92

Vacancy: 105

Repairs: 105

Capex: 105

HOA: 0

Property Management: 210

Utilities (All covered by Tenants) 0

Revenue = $2100

Expenses (Mortgage + Other estimations) = 1003 + 617 = 1620

Cash flow = 480 per month

Please what do you think about this deal. Thanks a lot!!!!