Is this a good deal?!

[Dung Nguyen]

Hi BP community!

I have submitted an offer for a three family in a pretty decent neighborhood. It is 3150 square feet, it has 8 bedrooms, three bathrooms, brand new siding, brand new roof, four off street parking spots, updated electrical, and all new windows. The first floor rent is below market price at $975, second unit is vacant, third floor rent is $800. Rent could go as high as $1200 for that area. The annual tax is $3750, the annual insurance is $1300, water and sewage is $200 per month, and basement washer and dryer takes coins.The work needed inside the units are mostly cosmetic where I can do some things myself and whatever else won't cost too much. I'm thinking less than 15k for all three units.  The asking price is 310k and I offered 340k with 8k back for closing costs. Is this a good deal and do you think I made a good decision? I ran all the numbers through the BP calculator multiple times and the numbers make sense. All feedback is welcomed. Thank you!

[Dung Nguyen]

@Jon Kelly The rent is low because the tenants have been there for a long time. Once the property is updated rent will be 1200 in that area. I offered 340k with 8k back so that it will cover my closing costs. I am putting in 25k-30k in the property in total (down payment plus renovations) Doing most of the work myself. I ran my numbers on bp calculator. Mortage and all expense(water vacancy 5% cap 5% I'm going to manage this property myself) the total will come to $2470 and once all the units are update rent will be 1200 each .$3600 rental income -2470 expense= 1130. Am I doing it wrong or missing something?

@Stephen J Davis I have been searching for my second rental almost 7 month seen over 100 properties most them either need new roof nor have old electric tube and need major updater all of those above also is in a very bad area. i feel because I'm still new to investing haven't met an agent that can help me get deals that's under market price and if it under market price. i know that you make money the day you buy been hearing so much season investor saying "rather jumped in and learn then sitting on the bench I'm tore between want to get a good deal or just get in and learn.