Help me analyze this. Buying at a low cap to remodel? Worth it

[Baron Hollowell]

So I am currently in contract for a 18 unit property C- apartment complex. It is selling at a low cap of around 5.5. Our market average is about 4.5 for A class and 6 for C class. Great location but in need of some serious reno. My question is it worth buying at low cap to make remodel and increase the NOI. I no they say to buy at high cap and sell at low cap. I have a attached the rental calc for my remodel remodel and used actual numbers from last year. As well as a spreadsheet for what it would be left alone at current purchase price.

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