4-family cashflows, but too high cost based on comps?

[Brian Cooke]

4-family under contract for 150k. Comps are a little under that number, but this deal came through MLS and under multiple offers. Inspection showed that there is probably $15k repairs that need made (roof, driveway, water heater, boiler) not including the little things in each unit.

Seller will make no concessions in price.

Gross rents: $29,340

- 8% vacancy =  $26,992

OE: $14,854

NOI: 12,138

with LTV 80%, 5.25% interest 30yr fixed I'd get a cash flow of $4187/yr

Annual cash on cash is around 8% 1st year taking into account closing costs, repairs, and purchase. I'd love for that to be higher but some people would say that is a good number and I know that is personal preference.

So basically, do the numbers seem good? Even if so, put in the repairs on top of the purchase price and I'm paying 17k more than the comp'ed ARV. Would you go for it or try to find another deal? Exit strategy is to hold long term, but was hoping to refi at some point sooner rather than later to get my money out of it.