New Haven Buy & Hold for Yale Renters

[Marielle Walter]

I am interested in purchasing buy and hold multi-family property to rent to Yale students. I am seeing that in prospect heights for example, it looks like one can buy a multi fam (3 units for example) for around 250 k or so and make over 1000 per month per unit (2 beds for example). It seems too good to be true to make around $4,000 per month of a 250,000 or even 300,000 property. Is the cash flow really that good in New Haven, or am i missing something? I see a lot of pre-foreclosures in that area.