Apartment Deal analysis

[Thomas Brady]

Hey BP,

I recently ran across an apartment complex that peaked my interest, and I would love some advice on this deal. (I am not an expert on larger MF, but do have one duplex right now so I'm not completely inept haha) 

it is a 10 unit building, each unit is 2/1 

Price is $300,000

Rents are $500/unit, so 5k per month (Rents could definitely be raised at least $50/month) 

The seller is going to send me the 1040 schedule E so I will have a better grasp on the actual expenses soon, but for now I am using the 50% rule and adding an additional 5% for good measure. 

With 25% down and all the numbers in, I am getting a NOI of $950-1000/ month.

Just curious as to how this deal looks to more experienced investors? 

Thanks!