Price 24 Unit MF Saint Louis

[Chris Hendel]

Can you all give me an opinion of these numbers and tell me what you think.

24 unit MF central corridor of Saint Louis.  Great central location close to everything.  Good neighborhood that is steadily becoming one of the hottest in Saint Louis.  Turnkey, no major work needed. 

PP: $2,200,000

Monthly Rent $17,300

NOI: $145,698

Cap 6.67

DCR 1.46

CAC 10.45%

OCC 100%

Vac rate last 2 years .03%

Just wondering what people think?  

[Darryl Dahlen]

The monthly rent is $17,300 or $207,600/year and the NOI is $145,698? That equates to to $61,902 in expenses or just under 30% which is very, very low. Expense should run around 50-55% so something isn't adding up.