Help me analyze this deal please!

[Pat Dansdill]

I found a deal in the midwest. I think it's a great multifamily investment, but never having bought a property, I'm not completely sure.

In short.

Units: 190

NOI: $485,109

Cost: $5,800,000

Down Payment: 1,450,000 (25%)

Debt: $4,350,000 (75%)

Cap Rate: 8.4%

DCR: 1.75

Loan to Value: 75%

It's located about 25 miles to a decently large city. I don't love the area, but it has about a 95% historical occupancy. Let me know if additional info is needed.

Thanks,
Pat