multi family rental analysis

[João De Assis Gonçalves Araújo]

Hello, everyone. I`m just getting start wholesale rental and multi family properties and i`m trying to find out what`s a good deal and what is not. I am good running the numbers for fix and flip but I am having some issues when I find some multi families on my listings.

For example I am analysing one property that is a 7/3 but the owner says that he can do nothing with the third floor because it has no proper egress. The other two are rented.

So in the analysis it gaves me something around NOI Total Cash Needed Cash on Cash ROI Purchase Cap Rate
                                                                        $8,604.00      $198,000.00                     4.35%             5.21%
Property Information
Purchase Price: $165,000.00
Purchase Closing Costs: $3,000.00
Estimated Repair Costs: $30,000.00
Total Cost of Project: $198,000.00
After Repair Value $240,000.00
Down Payment: $165,000.00

This is a bad deal? Even if I lower the purchase price?