rookie: analyzing 10-unit vs SFH? reading the proforma?

[Adam L.]

So I've read a lot about SFH calculations and worksheets and trying to figure out if they are good deals, but I'm thinking I want to jump into a larger project. I've come across a 10-unit building in a nearby close city asking $1.6M. Curious if anyone could help and earn some good karma?

It's a stand-alone building with 10 units.. 

Asking price:  $1.6M: 35% downpayment, 30yr term, 4%: -$58,650/yr

Gross Rental: $112,200/yr

Net rental w/ 2% vacancy: $111,156/yr

Total Operating Cost:  $33,227/yr (utilities, maintenace, taxes, 6% management, etc)

Net Operating Income: $77,929/yr

Less Mortgage: $19,278/yr