Is this a good deal?

[Samantha Klein]

I'm looking at a triplex with total rents of $1,602, two 2/1 and a 3/1. The two bedrooms are rented 200 below market each. The seller is willing to owner finance with a 20k down payment and 5 year note with balloon at the end.  Here's a break down of the numbers, I plan on raising rents to just below market. All tenants are on month to month leases. 

Total rents : $1,602

Mortgage: $525

Taxes: $219

Ins: $85 

Water/Sewer/Trash: $117

Repairs: $160

Vacancy (5%) - $80.10 

Capex (5%) - $80.10

New roof, newer water heaters, newer furnaces, new central air unit, so capex shouldn't be a big expense for awhile.

Numbers will be better when I raise rents but this is current breakdown. Current cashflow would be $335.80 a month but with raising rents on two of the units, the cashflow would be $735.80 a month