Is this worth looking into? $120,000 4plex

[Caleb Mclamb]

Hello BP, 

I realize that I am not including lots of information and that there is lots and lots of research needed to analyze a property. That being said, I am just asking if this property is worth further analysis. 

It is a 1 bed 1 bath 4plex

asking price is $120,000

gross monthly rent is $2200

nothing is stated about any repairs being needed and the pictures seem to show that to be true. 

The zip code has a small growth of population, is 38% renter occupied, has decent rent prices overall, and a very avg. amount of rental units. It is in a C neighborhood that is not a high crime area.

I feel that this 4plex has great potential being that it almost meets the 2% rule, and that it is is undervalued based on a 10% cap rate. 

Using the 50% rule it would cash flow at $640 a month (after my mortgage payment on my 20% down 4% loan) which comes to $160 per unit. 

Once again, I have done a very brief overview of the property and am wondering if it appears to be a steal?