Analyzing Multifamily in Dallas Texas area

[Nancy H.]

Hello,

I am a frist time invester and I have a opportunity to invest in a 103 unit property in the Dallas Fort Worth Texas area.

I would like to accomplish good cashflow and to leverage the property later to invest into another unit. I would like a little feedback and see what you think about the deal.

Property is a class C

Purchase price = 3,725,000

103 units @ 600 month rent w/ all utils paid

NOI 284,801 @ 5% vacancy

NOI includes Management @ 5%

Debt service 120,000

Expense @ 65%

CAP rate 6.95%