Is this a good deal?

[Cody Martini]

Looking at a triplex. The sale price is $195000. Each unit is 2 br/1 bath. All units are currently being rented at $700/month. All units have new flooring, appliances, toilets, showers, heating, A/C. Still waiting to hear if tenants are paying utilities or not. Tentative mortgage with taxes and insurance is $900/month. The property was built in 1960. It is close to a military base and a university. I feel like it could cash flow pretty well, but it doesn’t meet the 1% test. I welcome any comments or opinions on whether you think this is a good deal.

[Tim Herman]

@Cody Martini Better check your calculator my friend. This is greater than 1%. $700*3=$2100 Gross monthly rents.. $2100/$195000= 1.07%. With the limited information can't tell if this is a deal or not.