[Calc Review] Help me analyze this deal (Sanford FL)

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Really interested into moving into larger properties and I found a property that is slightly under market with rents.   Looks like I get another $450 mo bringing all 9 units to market.  There's also a gutted former 10th unit that could be a laundry/storage.  It's about 600 sq' and could easily be turned into 3 storage units at $100 mo each and room for laundry that could bring in another $150 mo.  

What do you guys think?

- Jason

@Jason Medina , why not bring the 10th unit back into service? If you're getting ~$700/month/unit, that might be a smarter play. You could create ~$60k of value.

  • Vacancy might be a bit low. Is this in line with your area?
  • CapEx and Repairs are probably low. I like 15% combined.
  • Is there any house electric, like hallway lights, or lawn care?
  • How are you doing 10% down? Is this owner financing?

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