Deal analysis in Kelso, Wa

[Jeremy Bernard]

So I was cruising around craigslist the other day, I saw this posting it appears to be 6 units on I think 2 lots. The poster included the current rent totaling 4275 of income. Asking price of 550k, I think he included the county assessment for the previous year at 408k. Currently the owner is paying utilities, which I am unsure the average cost. All expenses from what I added up comes to about 4600 a month or so. Annual taxes about 437.5 per month, repairs about 300-600, capex 300-600, property management about 430, mortgage about 3000, vacancy 230, lawn care I went with about 200, but I doubt that's needed, and insurance another s.w.a.g. around 300. Too me starting out I think this might be bit too much of an under taking, but I wanted to try and analyze the offer. Based off the information I gathered I would think a fair offer would probably be in the low 400's. Keep in mind I am just going off his current rent he is collecting, but he did say he has never raised the rent and currently has long term tenant's. The location is in southwest Washington, on the border of Kelso and Longview. I appreciate the feedback.