Looking to confirm my analysis

[Joe P.]

Hi all -- looking at a 4-unit property in Glenolden PA. I think its priced too high, so my numbers below work at the price I wish to offer. Let me know your thoughts:

Purchase Price:  $250,000

25% Down Payment

Units - Four (4) total:  4 bdrm, 2 bdrm, 1 bdrm, 1 bdrm

TOTAL MONTHLY INCOME $3500

Mortgage Payment: $1021 month

Insurance:  $130 per month

Taxes:  $408 per month

Heating/Utilities:  $218 per month, water and heat. Higher in the winter but averaging this cost out.

Property Management (10%):  $350 per month

CAPEX (10%): $350 per month

Vacancy (8%):  $280 per month

Maintenance (8%): $280 per month

TOTAL EXPENDITURES:  $3,039 per month

Final Numbers:
Cash Flow:  $461 per month

COCR: 7.41%

Cap Rate:  16.80

Curious to know your thoughts -- isn't the best deal in the world, but I haven't seen much better out there. Neighborhood is C+/B-.