Is this 4 - Unit a good deal?

[Tom Arnold]

Hey all,

I have been looking at this 4 unit.  The property is located on the space coast of Florida and in a growing beachside community.  The property consist of 2 efficiencies and 2 one bedroom/one baths.  Current rents are $550/month for efficiencies and $600/month & $650/month for one bedrooms (all utilities are paid by tenant).  This is an off market property, where the owner is wanting $300,000.  My thoughts are the property isn't worth more than $270,000. 

All units are mostly undated inside with newer A/C, flooring, kitchens, and overall clean inside.  The exterior will need cleaning up, mowed, and painted.  A roof in the near possibility ($10,000 total).  

Rents could be increased to $600 for efficiencies and $700-$725 for one bedrooms.  

Current cap rate at $270,000 is 5.9%.  I would be financing 75% of value.  Would you pursue with the purchase?  Let me know if you need more info!

Thank you!