Is this a good deal?

[Ralph Noack]

I'm looking at a 2 unit student rental in southern Ontario, Canada. Asking price of $300,000. Been on the market for only 7 days. 1 fully renovated 1 bedroom unit, the other unit has 7 bedrooms with 2 bathrooms & a common kitchen & living area. Also a separate double car garage that could potentially be turned into another apartment. The bedrooms are renting out at $450/month, Taxes are $3600/yr. I'd expect that the 1 bedroom unit could fetch more than $450. Its quite nice. Its in a neighbourhood close to universities & colleges (walking distance) A quick run through the BP calculator suggests a cash on cash ROI of 9.59% (with a few assumptions). Full disclosure, I haven't been in the building yet.

Any insights?