Deal or no Deal

[Barry Craig]

20 Unit Brick Apartment, Pitched Roof (new x 5 years)
Separate metered utilities (owner pays none)
All electric central air/heat
No Vacancy, waiting list to get in

Debt service: Asking 750,000 Get for 680,000

680,000 at 10% down 7.75% 30year

Year: 2007
Scheduled Gross Income: $125,400
Vacancy: $3,000 (never know)
Effective Gross Income: $122,400
Maintenance: $8,000
Taxes: $2,809
Insurance: $8,000
Management/Grounds/Misc: $18,502
Total Expenses: $37,311
Net Operating Income: $85,099
Debt Service: $53,573
Pre-Tax Cash Flow: $31,526
Monthly Per Unit Cash Flow: $138.20

2 bed 1 bath
No. Units: 19
SF: 777
Avg. Mo. Rent: $550

2 bed 1 bath resident care taker
No. Units: 1
SF: 777
Avg. Mo. Rent: $0

Can add laundry for additional income, rents can go up 10%

What's the consensus? Deal or no deal?