Possible Multi-Family buy and hold - First Time Poster

[Kyle V.]

Hello all, first time poster here. I am a small investor in the early stages of my REI career. I have come across a multi-family deal that I wanted to run by the forum as a potential buy and hold earner. The property is a 3-unit (2-3 bd 1 ba, 1-2 bd 1 ba) 2,682 SF, utilities separately metered. The list price is $243,000. Below are the sellers reported historical figures:

Annual Rent: $33,900 (actual based on current rents- property is fully rented)
Vacancy: 5% ($1,695)
Gross Operating Income: $32,205
Expenses:
Water: $433
Electricity: $420
Taxes: $2,672
Insurance: $1,635
Property Management: $2,712
Repairs and Maintenance: $1,695
Landscape: $350
Other: $870
Total Operating Expenses: $10,787

NOI: $21,417
Cap Rate: 8.74%

Debt Service: Approximately $13,749 - based on 25 year loan at 80%

Cash Flow: $7,668

Cash on Cash: 15.6%

Obviously the expenses require due diligence to ensure the reported expenses match the historicals however assuming they do, the numbers appear pretty solid. Occupancy history has been strong however that will be verified as well. Anything I may be missing in my analysis?  Any opinions on the deal itself?  Thanks for the help all.