First Deal - All Help appreciated!

[Aly Maz]

Hey everyone,

I came across an opportunity to purchase a 750 sq foot rental unit . Could someone help me figure out if this is a good deal?

2 bed 1 bad apartment unit with average rent $750-$800

HOA - $90 a month

Built in 1960

Similar units at this location sold between $47k- $52K

Owner is asking 55k.

Planning to offer $38k-$40k cash

 Any help is appreciated.