Triplex opportunity

[Brent Paul]

In my area there is a triplex for sale.  Unfortunately I haven't seen the outside yet.  However the siding and roof are new.  This particular property is in a decent area and is fully rented.  It has been off and on the market for the last 2 years.  I believe it's a little over priced.

Multifamily rentals rarely come to market in this area.

The seller is willing to do contract for deed.

He loses a lot of profit by paying for all utilities.  The rent is also lower than other comparable rentals in the area.

What is everyone's thoughts on this?

I am just not sure if the numbers work for me.

Multi-Unit Information
• # of Units (Total): 3
• Annual Insurance Expense: $900
• Annual Repair Expense: $600
• Annual Trash Expense: $309
• Annual Maintenance Expense: $1,200
• Annual Electric Expense: $3,113
• Annual Fuel Expense: $1,188
• Total Annual Expenses: $5,841
• Gross Annual Expense: $6,410
• Gross Annual Income: $25,140
• Owner Expenses: Taxes, Insurance, Water/Sewer, Electricity, Fuel, Maintenance/Repair, Trash, Snow, Lawn
• Tenant Expenses: Cable TV
• Shared Amenities: Porch

Unit 1 Information
• # of Baths (Full): 1
• # of Rooms (Total): 6
• Bathroom Description: Main Floor Baths (Full)
• Dining Room: Informal
• # of Similar Units: 1
• Monthly Rent: $950
• Total Expenses: $162
• Unit Number: 1
• Unit Sq. Ft. (Finished): 1,080
• Main Floor Laundry
• Appliances: Range, Microwave, Dishwasher, Refrigerator, Washer, Dryer, Water Softener (Owned)
• Amenities: Porch, Washer/Dryer Hookup
• Cooling: Central
• Annual Rent: $11,400

Unit 2 Information
• # of Baths (Full): 1
• # of Rooms (Total): 5
• Dining Room: In Kitchen
• # of Similar Units: 1
• Monthly Rent: $695
• Unit Number: 2
• Main Floor Laundry
• Appliances: Range, Microwave, Refrigerator, Washer, Dryer, Water Softener (Owned)
• Amenities: Kitchen Window, Washer/Dryer Hookup
• Cooling: Window
• Annual Rent: $8,340

Unit 3 Information
• # of Baths (3/4): 1
• # of Baths (Total): 1
• # of Rooms (Total): 3
• Dining Room: In Kitchen
• # of Similar Units: 1
• Monthly Rent: $450
• Unit Number: 3
• 2nd Floor Laundry
• Appliances: Range, Microwave, Refrigerator, Water Softener (Owned)
• Amenities: Kitchen Window
• Cooling: Window
• Annual Rent: $5,400

Any insight would be appreciated.