Dayton (Kettering) 4-plex deal analysis

[Aamir Shah]

Hello BP members!

I have been eyeing some 4-plexes offered by a turnkey company in Dayton. 

Here is an example of one:

514 Wiltshire Blvd, Kettering OH 45419

Its 4 1bd/1ba rooms

I want to get everyone's opinion on how good a deal this is. I would be responsible for water, trash and yard maintenance. Turnkey company assessed this cost as 1800 a year. Is that too low? Here are the numbers I crunched. 

Purchase	$155,000.00
Rent	$2,100.00
Mortgage	$665.66
Taxes	$294.08
Insurance	$66.67
Vacancy (7%)	$147.00
Repairs/capex (10%)	$210.00
Prop Mg (12%)	$252.00
Maintenance	150
Total expenses	$1,785.41
Income w Mortgage	$314.59
Income wo/ Mortgage	$980.25
Cap Rate	7.59%
COC	11.33%
50% rule	$384.34

Note quite 100 a door, but appealing to me given the good school districts and location.