Trying to estimate sellers capital gains tax

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I am trying to put together an offer with seller financing on a package of houses, think mobile home park but slab houses.

I am trying to estimate the capital gains taxes the owner will encounter if a cash sale - to better sell the owner financing.

I have their Schedule E and each is depreciated $1800. But if you take $1800 * 27.5 you get $49,500. $49.500 * 10 = $495,000. The asking price is $400,000. So this confuses me. If they essentially have $495, 000 into the houses, then would they not pay capital gains? The agent has told me he has had conversations with the seller and the seller is expecting a large tax bill.

I'm sure I'm missing something...