Analyze this Apartment Deal with Me

[Kierra Clements]

Hi everyone! 👋🏾

We have a 22 unit in Memphis, TN. It was bought and completely renovated. It is now a gated complex.

There are 4 units vacant, leaving 18 rented. Rents are 400-450. All units are 1 bed/1 bath.

• 22 units/18 occupied
• Units 1 bd/1 bth Avg sq. ft.: 480
• Potential NOI $67,000
• Avg rents: 400-450
• Asking: 540k (includes 3% closing costs)
• $3000 EMD

What do you think of these numbers??