[Calc Review] Help me analyze this deal

[O Samuel Adekolujo]

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Hi all,

A 8 unit multifamily is currently  listed at  $1200000.  Built in 2008. Current owner is out of state and selling because of Divorce.

Class B property. Currently fully occupied, with monthly income  $7990/month with potential for $9200/month as the newly updated units rent for about $1150/month  while other at  $ 900-950. Obviously the listing price is too high and a recent contract by a cash buyer at that price fell through. 

Question is how much will you pay for this?  I am thinking nothing more than $700,000. Please see my analysis for details

Thanks

Sam