Triplex analysis scenario

[Shane H.]

Wondering if I can get a few opinions on this potential purchase?

PP $210k

DP $15k

Required roof repair $15k

Inspection currently taking place this morning so unknown additional repair costs

Current rents $2345 

Owner paid W/S/G & exterior electric $544

taxes $2200 /yr

Insurance (awaiting accurate quote) estimated $1200/yr

Seller financing $195k at 5.85% 5 year balloon amortized over 30 years with monthly payment of $1150. If not paid in 3 years then required $15k additional towards the principal at that time.

Value unknown as appraisal isn't required. Comps came back anywhere between $150k-$340k.

Current rents are low, property has 2x 3/2 and 1x 2/1. The 3/2's market rent is between $950-$1100 and the 2/1 is between $675-$850. This is really the only way i think this deal would make sense but raising the rents $200+ per unit would likely mean turning over current tenants which would mean additional costs to go with that.

Thank you in advance!