Would you do this deal?

[Mike Sales]

Ok, I'm not actually going to buy but, I've been looking at this site excessively, and decide to give my valuation skills a go. After a few days of going over properties via, realtor sites, craiglist, etc studying the market I will invest in I ran across this.

4 unit building(really 5 units but 5th is unfinished)
Sales price $89,900
Apprasial Value 109k

All units have been rehabbed fully. New energy effecient furnaces, rehabbed kitchens with hardwood floors, new bathrooms.

100% occupancy.

Gross Rents $2250
PITI 69k @ 8% over 30 years is $1006
NOI is $1244
Expenses $1125
Positive Cash Flow of $119

Claims contractor says 6k to get the 5 unit going and could rent it out at $500

Would this be a winner or loser? This would be a property I would go and check out as a newbie, if I were buying.