5 unit at auction----what would you pay

[Craig Montesano]

HI all

Nice 5 unit close to me going at auction in a few days....interested to see what fellow investors would be willing to pay.

all side by side - 2 bed 1 bath units - basement with garage - central AC - individual furnaces and hot water tanks in basement (all in good shape---There should be no issues for a few years on these items) - all units are very nice and rent for $505 month plus electric, gas and water - rents are about $100 low for this area, don't want to cause a mass exodus and raise rents immediately to $600 / month.  Brick construction. Roof is in great shape.

taxes - $5,100

Insurance - $3,100

Sewer - $237 / month

owner responsible for mowing and snow removal.

All units are occupied with long term tenants

Not sure if I am missing anything.  Building is in great shape but rents are waaaaay low which throws off my pricing.  I always like to use current numbers and not "future" numbers.

Any insight is appreciated.

Thanks

Craig