Multifamily (6 Units - all 2b/1b) Investing in New Castle, PA

[Wei Tang]

Hello! We are new in this commercial multifamily investing and are currently presented a deal in New Castle, PA. We have little knowledge about the area and hope to get some advise from your local pros/investors regarding the cap rate, vacancy rate and NOI for such property in a C to C+ neighborhood. The asking price is $250K ($100K down incl. repair and $150K owner financing at 4.1% for 5 yrs). Currently 4 of the 6 units were rented out at significantly lower rate ($425; 2x$525; $550) than the market's.

Thanks in advance for your advice,

Wei