What would you pay based on these numbers.

[Lafi S.]

Hi guys,

I've been looking into buying my first multi-family. This property is a 6unit. Without revealing the price, I'd like to know what the investors on this forum are willing to pay based on the numbers. I'm sure a lot of you have a general rule of thumb based on the income so I think that might help me make a decision.

Here it is:

Total Income $5,246 X 12 = $62,952

Separate Utilities

Approximate Annual Expenses:
Taxes: $9,829
Water $2,596
Insurance $3,030
Electric $463

Total Expenses $15,918

Gross Income -- Expenses = Approximate Net income $47,034

This is obviously based on the assumption that I pay cash and not borrow money, so what is a good starting point to make an offer?