Fourplex Deal Analysis

[Garrett Grove]

Asking Price: 259000, the most I would offer is 249,000
Downpayment required, 25% conventional: 62,250
Interest+principal, @4.5%: 946.23
Taxes, verified: 3000/yr,250/mo
Insurance, verified: 1700/yr, 142/mo

Rental Income: 775x4=3100 (3/4 units are currently occupied, I would live in the other)

Expenses:
Maintenance, 10% rent=310
Vacancy, 10% rent=310
Property management, not required for now, but include, 18% rent=558

NOI: $584/mo.

Cash on cash return=10.26%.

Any thoughts? The first few years would be much higher returns, as I would be the property manager. Cash on cash return=20%

The tough part right now is finding 25% down, I have a few potential investors, just pitching my case and trying to get the funding to me in a tax-free manner is a little trickier.