Possibly too good to be true, help me see what I may be missing.

[Jonathan G.]

I just wanted to post a deal on here that I just recently came across.  I am new to Bigger Pockets and would like any advice at all when it comes to looking at this deal.  It seems to be way to good to be true.  I have run several different formula's as a first step (50%, 2%, 1%).  The next would be to pop all numbers in in the Rental Properties Calculator on BP.  Then I would probably go take a look at it.  It just shows so much cash-flow I am not sure why they are selling it for so low, and why it is not gone yet.

Before I do anything else I wanted to post the info on here for everyone and anyone to chime in.  Any help that you would offer in regards to looking closer at this deal I would much appreciate it.  If I forget to leave anything out in the initial post please feel free to ask me for any important information that I may be leaving out.

DEAL

12 Units with 1bedroom/1bath rent is listed at $450 per unit.  They say it is 100% occupied.  Asking price is $254,000.  It was originally listed over a year and half ago for $350,000.   Also they are offering owner financing.

It sounds too good to be true.  Any advice.  Should I go check it out.  Am I missing something huge?  Any advice would be very much welcomed.  Again I apologize if I have forgotten something.

Interior Features

• Wall/window air cond.
• Carpet
• Tile flrs
• Range and oven
• Refrigerator

Exterior Features

• Elect. srvc avail.
• Public water supply
• Public sewer srvc

Heating Features

• Gas
• Electric

Unit Features

• 12 total unit(s)

Misc

• Topography: Public sewer srv