Need feedback on my Deal Analysis

[Anwar H.]

1327 Lehigh St, Easton PA is a 4 unit. 2x 2bed 1 bath, and 2x 1 bed 1 bath. Current rents for all 4 units are around $4,150. Seller says it is way below market rent, and I agree. He suggests that projected rents would be $5,400. But I think they'd be around $4,800 (conservative estimate).

Seller is also claiming there are no common electricity at all- which is hard to believe, considering there's common gas, water and sewer. and most likely a common area electricity. For my calculation, I've assumed $1200/yr utility payments

Seller is asking for $5,25k, but according to my calculating a fair price at 7.5% cap rate woud be $4,80k.

What do you guys think? Please provide any thoughts on how to improve my due diligence process.

Below is the breakdown of the math I did: