Please help me analyze this deal!

[Ryan Cheung]

Hello,

I am currently looking to invest in my first multi family apartment. I found a fourplex in Union City, NJ. Each unit has 2 bedroom and 1 bathroom. I would love to get some feedback on the deal. I am going to finance this property with a 203K loan.

Price and Renovations: $420,000+$25,000=$445,000

Downpayment (3.5%) - $15,575

Mortgage with PMI: $2,266

Rent: $6,000 per month for all 4 units. However, I will be receiving $4,500 since I will be living in one of the units.

Taxes: $14,000/12=$1,166

Expenses with Vacancy, Repairs, CapEX, Property Management Included: $2,110

Cash on Cash Return: 19.92%

Cap Rate: 7.69%

Cash Flow: $424.60 per month

*These numbers are based on the $6,000 per month rent*

Could anyone please help me evaluate this deal and help me confirm if my numbers look correct? Any advice or guidance would be greatly appreciated. Thank you!