Am i missing something in this deal?

[Stefan Christensen]

I am looking at a four-plex that is vacant but was recently updated, but don’t understand where the sellers numbers came from. I ran my own analysis and it looks like it cash flows negative.

What am I missing?

Here is what he sent me:

Listed at 279k, units would rent for $725-750 each, taxes are $4,600/year, coin laundry income estimated at $1100/year. Tenants pay electric, owner pays sewer, water, and garbage (3,800/year).

Does anyone else think this is close to a deal? I offered 190k since that’s when the numbers started to look appealing, but I wanted to get another set of eyes on it. Am I being greedy?