Am I doing my math right? I'm coming up with a 26.3% Net Cap Rate
We just recently put a 6 unit under contract and have lowered the price to 105K, the rent a month is $3025, the expenses are $726.42 (Gas and Electric), Taxes last year was 2700 (year total), the property is fully occupied, and each unit would need to be turned over after occupants move out (adding to your cap rate due to rent being lower that the average in the area). I have attached the link to our contract:
Offering