Help analyze first 5+ multi family building

[Brad O'Neill]

Hi I am looking at purchasing my first 5+ multi family unit and wanted to get a few opinions on the deal.

2 small buildings that have a total of 9 units on 1 acre of land. Could use some exterior work to make it more pleasing to the eye for sure, things like paint, new doors, windows, and landscaping. It has room to place at least 1 more building on which I would do if I purchase, that would be part of my rehab and refi plan to cash out on my initial investment.

Here are some rough #s

Asking price: 195,000

Planned Purchase Price: 170,000 (the rest below is based on this price)

75 LTV

Down Payment + Closing Costs: 47,600

Loan Amount: 127,500

Amort Period: 20 yrs

Interest Rate 6%

Current Rent: 39,420 (owner says that is what he currently collects, I would hike the rates as they are below market and probably why the owner says he stays full

Operating Expenses: 14,107 (Tax, Insurance, utilities, 6% vacancy, 10% maintenance)

NOI: 25,303

Cash Flow after P&I: 14,351

Return on Cash Invested: 30%

CAP Rate (Weighted for Leverage): 14%

Gross Rent Multiplier: 4.3

Debt Service Ratio: 2.3

Cash Flow Per Door Per Month: 133

% of monthly rent to purchase price 1.9%

What do you think? I made a point to not use any single metric to size it up but most of them and they all seem like its a safe bet from a numbers perspective.