4.8% Triplex deal, what is your opinion?

[Ryan B.]

Here's the numbers let me know what you think.

Old house that has been split into three 1 bed apartments. Low income but not warzone.
Asking price: $24,900
Fully rented at $1200/month (3 x $400)
Taxes are $575/year
Insurance $825/year

One tenant has been there 10 years, one for 3 years and last one almost a year.

Still have to find out about utilities, I imagine landlord pays. All other things aside, my biggest concern is having all 1 bedroom apartments. I figure worse case scenario the place could easily be turned back into 4 or 5 bedroom house and get $750 - $800 per month. Obviously I am after cashflow and not appreciation on this, would add it to my other low income properties.