Help me analyze this 4 plex

[Anson Young]

have a guy looking for a 13+ cap rate.

This one looks promising. Any help from you guys?

Purchase $180k
Each 2/1 unit rents for $700/mo
Has 2 car gar for extra income out back, we will leave that out for now.
Taxes $2k/yr
Each unit needs around $5k to get up to snuff, otherwise pretty clean. Vacancy for q4 in this city is 3-4%.

Thoughts?

[Jon Klaus]

You'll have to calculate expenses, but let's assume 50% of scheduled income.

Purchase--180,000
Make ready--20,000
Total -- 200,000

Income--33,600
Expenses--16,800
NOI--$16,800

Cap rate -- 8.4%