Triplex first buy, first post

[Darren L.]

I'm looking at this local triplex in a good area more like a house with a yard and in good condition with one 3 bedroom one 2 Bedrooms, one 1 Bedroom...  I Can buy this deal for $340,000.

 The income is $3420/$41,000 a year BUT I think the rents are strong and may drop to $3100/37,200 a year.

Exp. for Tax, utilities and insurance is $833/$10,200 year....  I think that's low and should be $988/$11,860.   Keep in mind I haven't exp, repairs, vac, capital improvements or my time as a property manager lawn and snow removal 

My monthly mortgage payment on a $340,000.00 mortgage with an amortization period of 25 years, will be $1,538.37. 5 year Fixed @ 2.59%

based on their numbers that's a CAP of 9.07% and a positive monthly cash flow of $1032.16

My number's I get a cap of 7.45% and a positive monthly cash flow of $573.66

Our local vacancy rate is climbing about 0.5% for the last few year and next year it's expected to be at 4.5%

So thought's.... Do I do this deal?  Thanks friends