Single Family Rental near Rutgers University- Good deal or not?

[Jordan Gilberti]

Hello all,

I cam across a SFR near Rutgers University right near the Cook/Douglas campus. It has no trouble renting and has never been vacant. I viewed the house and it is in pretty good condition and recently had the roofing replaced. It sleeps 11 legally and has 7 bedrooms and has 3 indoor garage unit and 8 off street parking. (for those of you familiar with parking in New Brunswick, this is a huge plus) Here are the details;

Price: $497,500

Monthly rent: $5,300

Property taxes: $8,200

I would put a %20 down payment which would give me about an $1,800 mortgage

The monthly cashflow would be approximately $1,800

Is this a deal worth buying?