so since none of this happened, I made the assumption that its not an experienced buyer or for that matter experienced agent guiding the process. 

Some additional thoughts on the analysis are: 1) Vacancy - I would assume 5% instead of 3% as I see most banks desire that assumption, 2) Interest Rate - Seems a bit low to me, perhaps 3.5% instead of 3.0% - However, if you already verified with a potential lender I would go with that assumption, 3) Management - Are you managing this yourself?

A few thoughts if those assumptions above are correct. 

Just note, all the inputs, cap rate, interest rates, etc. are assumptions.

Personally, I'm investing in small/mid sized multi-family properties now under assumption that over the next few years inflation will increase incomes/rents and provide some support for increasing income.

@Prash Manohar your assumptions are spot on.  

I would wonder where the 12% return projection comes from and what assumptions go into that.

Good points, my original assumption is that just by placing this house on the MLS will do 90% of the marketing needed.

There seems to be an assumption that students have to live in high end housing to enjoy college.

I'm working on a VA Assumption deal for a duplex.