Newbie soon to be pulling the trigger on 2-4 unit's as soon as I find the deal for me. Was curious...not including debt, is 100% gross rent X's .65 to .60 = NOI a good calculation for all expenses? Thanks y'all.

Then multiply by 50%.

However your multiplier is huge. 

HelloGEOGRAPHYCountyNJ:MIDDLESEXPROPERTYProperty TypeResidential: Multi-FamilyResidential: SFRResidential: TownhouseResidential: DuplexResidential: TriplexEquity(%)30 40 to 100 % maybe as low as 20% depending on the fluctuation of values Last Market Sale Date01/01/1950 1900-01/01/2006 2009OPTIONSOWNER-OCCUPIEDAbsentee Owned In-StateAbsentee Owned Out-of-StateALL STATESADDRESS-COMPLETENESSMailing and Property address CompleteCORPORATE-OWNEDExcludeAddsExclude trust ownedInclude a Value not to exceed median and not lower than a multiplier of value times % of equity that youre comfortable buying.Since you can't grab BEDS add Sq 1100- 1800

Eventually as time passes you will experience a 20-22 times multiplier. 

My business has increased and multiplied just due to coffee and a few ride arounds with them.

You'll find that due to repeat, referral and TOM that your marketing dollar will decrease considerable and that your returns will be in the low 20 times multiplier.

In can multiply returns but what everyone also fails to mention is it can also multiply losses.Now I am not opposed to debt but there is smart debt and bad debt. 

@Mark Moore , some of your numbers don't add (or multiply) up.--$875/month is $10,500/yr not $10,800--those maintenance and management expenses seem very low.  

What I usually do is take the most recent 3-5 properties and do an average price per square foot and then your subject property multiply the square footage by your average price per square foot - this should get you close to a comp price.