Texas 4 plex MFH 2 bed/1 bath each

[Neems Y.]

Hello BP. I found this deal that seems promising and I wanted to run it by someone to see if I am missing anything. Note: The numbers listed are provided by the seller and haven't been verified yet. Some numbers are estimated by me which are marked in parentheses. The neighborhood is not the best. The schools average a 3 out of 10 (range 2-4) from preschool to high school. Walk score is 67, transit score 48 and bike score 56. On a neighborhood ranking website it scored a 59, while Texas scored 69. 

Details:

4 plex MFH in Texas

Each 2 bed 1 bath 

Price: $250,000

Mthly details:

Income: $3,350

Expenses:

Tax: $65

Insurance: $227

Garden: $80 (this is my estimate)

Repairs: $200 (this is my estimate)

Vacancy: 0% 

CapEx: $200 (this is my estimate)

Prop Mgr: $335 (this is my estimate, 10% of income. Is this accurate?)

Loan: $1037 (Principle and interest)

Total Exp: $2144

Dwn Pymt: $50,000

Close Cost: $4,300 (not sure about this one, I was told it's roughly $1300/$100K, any input would be greatly appreciated)

Rehab: $0 (Although, it may need some, but nothing is critically in need of rehabbing). 

Cash Flow: $1206

Cash Flow/yr: $14,472

Cash on cash ROI: 26.6%

Cap Rate: 10.7% (seller list the NOI as $26,789 and GOI as $40,200, so expenses are roughly 33%)

IRR: 22.3% (see attachment)

This would be my first deal ever and first out of state deal, which makes things more complex and daunting. 

Thanks for taking the time to look it over and providing any feedback.