A good deal?

[Account Closed]

Does this appear to be a good deal? The blurb says the property is always rented.

List price 94000 price per sq '=$79.06

9.54 gross rents multiplier
.09 cap rate
list price $94000
average rent 775

Gross Sched Rents 9,300
Vacancy Loss 0
Other Income 552
Adjusted Gross 9,852
Total Expenses 1,436
Net Operating Income 8,416
Cap Rate 0.090
Grss Rent Multiplier 9.54
Exp/SqFt 1.00
Admin. Expenses 0
Insurance 300
Water/Sewer 372
Taxes/Assessments 764
Figures Presented Actual
Master Water Meter Yes
Master Elec. Meter Yes
Master Gas Meter No
Air Conditioning Yes
Laundry Facilities Yes
Laundry Hookup Yes

I would hire a property manager at 10% of the rent + $10 office fee.

How do I determine the Gross Rent Multiplier? And if it's a good deal, why would the owner be selling?