It is a 36 unit multi family property, the property is just next to the University camps.

I live in Manhattan, KS and we are home to ~20,000 students that attend Kansas State University each year.

Details:227k asking price4bd, 2br 44k down payment, $1046 per month (includes mortgage, property tax, insurance and mortgage insurance)2 units and each unit has 2 bedrooms and 1 bathroom, rent per unit is 1100k per month (i think this is the average rent for 2 bd 1 br near st louis university, please correct me if i'm wrong)NOI: Annual rental income $26,400 (1100*2*12) - Vacancy loss $1320 (28,800*.05) - Operating Expenses $4800 (400*12) - property management fee 2640 (26,400*.1) = 17,640Cap rate: $17,640 NOI/$227,000 Property Value = 7.7% Cap RateIs this feasible or decent? 

Details:227k asking price4bd, 2br 44k down payment, $1046 per month (includes mortgage, property tax, insurance and mortgage insurance)2 units and each unit has 2 bedrooms and 1 bathroom, rent per unit is 1100k per month (i think this is the average rent for 2 bd 1 br near st louis university, please correct me if i'm wrong)NOI: Annual rental income $26,400 (1100*2*12) - Vacancy loss $1320 (28,800*.05) - Operating Expenses $4800 (400*12) - property management fee 2640 (26,400*.1) = 17,640Cap rate: $17,640 NOI/$227,000 Property Value = 7.7% Cap RateIs this feasible or decent?

. - Very close (less than a mile) to one of the dozen University branches in the city center- Build in the 70sMy why:I'm 44.

I am 17 and am looking at investing in the Mount Pleasant area where Central Michigan University is located.

I like a 1-2 mile radius around Tulsa University.

You should be in good shape.Some of the really cheap stuff looks great on paper but takes a ton of management.The great thing about Cleveland over a lot of the other hot rental market in America, is absolutely the amount of employment we have.Hospitals, universities, three major sports teams, tons of restaurants and bars although that is not a big deal right now with Covid.Low home prices, far below replacement cost and High rents make Cleveland a rockstar choice in my opinion!

Does anyone have experience with trying to buy residential property from a university?

It's also near a big university so I get students and families of students visiting.