sixplex

[Thomas Brady]

Hey BP I have another investment property that I would love some insight on. 

I recently posted about an Eightplex I was interested in and received some great feedback. There is one more deal I've been looking at and I'd love some more help on it. 

Here are the numbers: 

sixplex in hickory NC 

Price: $160,000

Gross monthly Rents: $3,050 (definite possibility to raise rents by about $25-50 each) 

Expenses: (50% rule for now): 1,525 

NOI: 1,525

Cap: 9.5%

Debt service: 25% down, financing 120k @ 6% amortized over 20 years, with a 10 year balloon. 

$860/month 

Net monthly profit: $665

Cash on Cash: 19.95%

Any thoughts on this deal? Thanks!