Here is the financial information from the recent sale of a 6-Unit Income Property that sold last month.

The property below was a legal 6 unit and had a 7th apartment too.

At the end of the day, you can see that with a 35% down-payment this buyer took a loss of over $22,000 per year, or a -5% return on this investment.

Westboro 6 Units, Sold March 2019
Listed Price $1,250,000

Selling Price $1,231,000
Scheduled Rental Income (SRI) $62,000
Effective Rental Income (ERI) $59,932
Total Operating Expenses (TOE) $26,413
Net Operating Income (NOI) $33,519
Capitalization Rate (CAP) 2.7%
Operating Expense Ratio (OER) 44%
Sales Price X Net Income 37%
35% Downpayment $430,850
Mortgage (@ 5%) $800,150
Annual Debt Service (mortgage payments) $55,844
Cash Flow $(-22,325)
Return on Investment (ROI) (-5%)

Are you currently looking to buy any type of income property, if so, have a look at these Buildings for Sale