Quadplex deal question...

[John S.]

I'be recently found a deal for a turnkey ready quadplex in Georgia. It's located in Douglasville, where the median family income is $143,000, and the seller is asking $385k for it. He said it's 100% occupied with $875/mo rent. Without having a chance to figure the numbers, this seems a bit pricey. The ad even said that there's a 10% CAP rate, 3 bedrooms and 2 baths in each unit. Does anyone have any insight as to this property? I'm new and learning, so anything is greatly appreciated.

[Heather O.]

Not having much information to deal with, it seems that you have a good sense here and it's pricey.  What is the unique selling proposition for this property?  100% seller financing at 1% interest?  Terms matter more than price in my book.