Need expert advise on this figure

[Jack Srimani]

Hi,
I am looking at a four unit property which was built in 1926. The owner furnished the following:

Sell price 130,000
Rent- 23640
Operating Expense- 11315 - (Gas 3852, electric - 4260 Tax and Insurance 3200)

Net Profit 12325

4 Units with varying rents

I have asked for the lease for past one year and verified the rent which happens to be correct. Now does the 50 % expense rule that applies to old houses involves heating and electric expense ? I am not sure. I am darn sure that the sell price is very high.
I would need advise to know what should be the sale price that would be appropriate for this home. Also does this deal seem any good. I am looking for potential first investment in multi unit rental. Thanks for your help.