My first Potential deal (5 units) need help with numbers

[Maurice B.]

Good evening,

I have been listening to podcast, reading, and analysis deals and have had some up and downs. I finally felt confident to put offers on deals. I started with a Triplex then Quadplex but on both deals the owner and myself could not agree on terms.

Finally I found a 5-plex (5- 1/1) and an owner verbally agreed on a price. I am in the  mist of getting this property to be finance. I want to go through my numbers even know if this property is worth my first deal. Thanks for the help in advance!!

Agreed Price: $286,700

Down payment: 25%

Loan rate (5.5 or 6%) will know soon

Monthly Rent- $3,334

Max Property tax: $4,750

Insurance: $2,633 (from owner expense report)

Vac- 5% / Main- 5% / CapEx- 5% / Property Management 8%

Other Expense ( Waste Managment, lawn care, pest control, $339/month)

Which leaves me with $340/month cash flow @ 5.77% cash on cash ROI

Is this even worth it as my first property?

[Dennis M.]

@Maurice B.

Don’t waste another minute of your life analyzing this one . There’s no meat on the bone . Keep looking