Need advice on analyzing this deal

[Eric Carter]

Need help analyzing this deal as it would be my first rental property.

Have a few investor buddies in ca one has a fourplex in let’s call it the “middle class hood” here in ca.

Here are the details:

Conventional loan (because there’s no rush)

Purchase price: $450,000

Down payment: $90,000

Interest rate: 4.5%

Principal : $1824.00

Utilities: $390.00 month

Insurance: $60.00 month

Property taxes:$422.00 month

Total: $2695.00

Gross monthly rents :$3425

(There’s a little room overtime to increase rents)

Cash flow $730.00

Vacancy factor not figured here probably somewhere around $300.00

I’m wrestling with the expense of 90k down . The market is insane right now trying to nab my first rental but i could always try and find an off market deal but that’s just as tough. There’s no competition with this deal.