What is the maximum you would pay for this deal?

[Tim Cooper]

Well maintained brick 12 unit building on wooded cul-de-sac. Building has (10) 2BR 2 bath with living room, dinette, kitchen, master bedroom with bath and large closet around 1000 square feet each; and (2) 2 bedroom 1 bath units around 800 square feet. All apartments have electric range, refrigerator, dishwasher, hood vent, garbage disposal. There are ten carports and 8 additional parking spaces. Security entrance. Apartments have balcony or patio. Laundry rm 2 washers 2 dryers. Building roof -2006, carpet roof - 2012. On site manger. 

Asking $498,000

ANNUAL INCOME AND EXPENSES:

Rent $81973

Laundry $2160

Taxes $13266

Electric $2304

Garbage $1267

Insurance $5123

Maintenance $6827

Management $7800

Water & Sewer $3289