4-plex deal evaluation please

[Chris Lang]

I have an opportunity to buy a 4 plex before it goes on the market 

the sellers first price was 97k, I offered 82K and then 90K. Seller then went to 95K. 

It has 4 - 2bdrm, 2 bath units with some newer utilities and some older but are still working ok

Currently only half is rented and one is ready - the fourth needs finished (which I said had to be part of the deal). It appears to have been taken care of pretty good and the owner is very picky about tenants (no pets, no children). 

I have just offered 90K and I finish the last unit

I ran the numbers on the cash flow analyzer with 20% down, 15 year   6% interest

rental income starting at $450/mo (unit is located in Leavenworth Ks. - rental area with other multi units around and older low end houses)

I figured 10% vacancy rate, taxes, insurance, repairs, accounting, supplies, lawn care and pest control and came up with 6230 annual income at 95K

above expenses were kept to a minimum because we tend to do most work ourselves still.

I guess I'm looking for feedback on wether I'm thinking right on this deal.

Currently we own several SF homes and some Commercial - this is my first shot at a 4 plex.

Any help or advice would be greatly appreciated! Thank You, Chris