Do you think this is a good deal?

Hi, I’m new to investing in multi family but am definitely learning alot from these message boards. Here’s a property for sale I came across. Any thoughts on whether you think it’s a good deal?

No. Units: 24
Occupancy: 90.00%
Price: $450,000
Price/Unit: $18,750.00
GRM: 3.60
Cap Rate: 11.63%
Cash On Cash: 19.20%

Year: 2006
Scheduled Gross Income: $124,836
Vacancy/Credits: $12,483
Effective Gross Income: $112,353
Total Expenses: $60,023
Net Operating Income: $52,330
Debt Service: $30,206
Other Capital Costs: $4,800
Pre-Tax Cash Flow: $17,324
Expenses/Unit: $2,501.00
Expenses/SF: $9.08

I tried using the basic formula from poster (propertymanager) and it looks to me like
$124,836 gross rents x .55 / 12 = $5,721
Monthly payment: 8%, 30 yr on 400k) = $2,935
PCF = $2,786

I could have left some things out - any ideas would be appreciated.
(this assumes putting $50k down). I’m not sure what the “Debt service” means.

Debt Service are the mortgage/loan payments.

Cap rate looks great to me. Of course, make sure you verify all the numbers.

PCF looks high based on the numbers the seller provided.
NOI - Debt Service totals around $1425 monthly positive cash flow.

Verify the $60K expenses and make sure those numbers check out. If you could see two or three years worth of numbers it would give you a better picture of the properties performance.

Good luck!