12-Unit Apartment Bldg Help me analyze this deal!

[Tate Siemer]

View report

I had to customize a bit.  We are purchasing the property for $1,050,000 and doing $250K worth of work to it, hence the aquisition price of $1.3mil, but then the loan amount changes, so this is an imperfect analysis.  We need a apartment fix and flip calculator!  :)

*This link comes directly from our calculators, based on information input by the member who posted.

[Mary M.]

I am trying to understand the report and am having a hard time, so would like to ask some questions.  Given that apartment complexes are priced on the amount of income they produce, how will this property be worth 1.7 million after reno and still have the same rent? 

Also the cap rates look off given the expenses look super low to me.  If i use 50% of rent as the expense number  i come up with about 6k/mo cash flow   This equates roughly with the initial buy price    Will the area suport an almost doubling of the rent to get to a 1.7m valuation? 

I am learning so forgive my questions :)