Brian,Gave you a great link to the crime rate website, that is not all there is to it.
Having sold many multi family properties
The first thing, if you are doing a drive by, is to look at the cars ( are they mostly old).
What is the condition of the landscaping of the property and the surrounding one.
One thing that is a dead give away that you should run is if you see a public telephone near be!!!
It is a VERY indicator that most people their do not have good credit.
Also, do not take the rents, vacant, and expenses at face value.
Many times , they will list MARKET rent, not the ACTUAL rent they are receiving.
Also I smell something rotten as far as the expenses of $1,500 annual! Can't be so!!!
Check the assessors office to see what their property taxes are?
Let me tell you a good rule of thumb I have used for many years when eveluating income properrty.
Assume a 10% vacancy
Assume 40% in expenses.
What's left over after servicing your debt.
Then you will have a good idea if the property is worth buying.
Also to remember!
Everything-roof-A/C,flooring etc. has a life expectancy so figure you need to set about 10% aside for capital improvements.
If you like, please contact me and I can help you with these kinds of properties. I can evaluate them very quickly.
Realty One Group