Deal on table, I'm leaning away from it, what do you think?

[Doug Scarano]

quad located in little Mexico in S. Jersey. $157,500. $3050/month rent, cash. Taxes, water, sewer, trash = $9000/year. Owner buys oil for heat, this year's cost ~ $4000. Seller financing. He wants $37,500 down. Finance $120,000 over 15 years @ 7%. Also new electric service on both sides(4 units). House needs some repairs ~ $2500. What do you think? Stay or walk?