Good Deal or Bad Deal?

[Ralph Miller]

Hi guys, so I actually started viewing some properties this week. Came across this 4 plex and would be interested in hearing what you all think:

Gross rental income $ 3,425 

Monthly Expenses: Mortgage (25% down) $1,240

Property Tax $9,600/12= $800

Insurance $ 1,800/12 = $150

Water+Gas+Electric (common), scavenger =  $$585 

Repairs 5% x $3,425 = $171.25

CapEx 10% x $3,425 = $342.50

Vacancy 6% x $3,425 = $205.50

Misc. Expenses 5% x$3,425 = $171.25

Total Monthly Expenses: $3,665.50

Monthly Cash Flow: negative $240.50

Seller is asking $344,000 but will go down to $325,000. My agent thinks that's a good deal, my take: not even close! Am I doing this right? Missing something? Am I crazy? Am I exaggerating, being to strict in my calculations? oh, one more thing: I assumed I'd be doing grass and snow myself. Thank you in advance for your input.