Triplex assistance - what price would make it work?

[Sticky Rammel]

Hello BP Friends - I am looking at a Triplex in a small town. Good neighborhood. It's fully rented out currently. It was built in the late 1800's. All 3 units are 1bd, 1ba.

Owner wants to sell without listing, says the "starting" price is $80K, and he got that number from a Real Estate Agency who said that would be the high side.

Here's the details that I know:

Rent Income: $1050/month ($350/each unit)

*I believe there is some room for increase here(probably to $400/unit). Tenants pay the utilities except the water, which I have listed below as an expense.

Expenses:

Insurance: $84/mo

Taxes: $125/mo

Water/Sewer: $112/mo

Lawn/Snow: $88/mo

Maintenance: $105/mo (10%)

CapX: $105/mo (10%)

* note: I've never owned a multi-unit, so is 10% reasonable for this budgeting?

Vacancy: $105 (10%

Property Management: $0 (I'll self - manage this one)

Total (without financing): $724

So If I'm looking at this property as realistically as I can, it would not work at all at $80K but what sale price would it work at? And/or I guess I'm trying to figure out how do I analyze this differently if I were to pay cash for the property or if I do traditional financing with say 20% down, then bank loan. That would change what makes a good deal I guess.

Any advise would be greatly appreciated, as I only currently have SFH. Thank you in advance.