Deal analysis

[Brandon Gerhardt]

Potential deal near my work just came on the market, it seems a partner wants out.  Total deal valued at 1.4M and his 50% stake he wants to dump for 550k

See below for numbers. 

Description

4 2 bed 1 bath

16 3 bed 1.5 bath

20 Individual tax lots - potential exit strategy

No Broker fees, FOR SALE BY OWNER

Monthly Rents $16,850.00
Annual Rents $202,200.00
Annual Management Fee $20,220.00
Insurance Windstorm $4,040.00
Insurance fire and Liability $4,000.00
Taxes $15,000.00
Net Income $162,940.00
Sales Price $1,400,000.00

Havent verified the numbers, but on the surface this looks like a cash cow. 

What do you guys think?