[Calc Review] Help me analyze this 8 unit in Euclid, OH

[Jon Ostojic]

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So I've been in contact with the sellers of this (partners, one of which is an agent). They have no debt on the property and have said they're open to some seller carryback. They are asking $499k. According to the county taxes they paid $345k 2 years ago. They've put money into updates and say they have stabilized the property. 

Euclid is interesting as there is an Amazon distribution center opening in 2019 which will bring over 1000 jobs to the area. I'm assuming 5% vacancy, but I don't know how realistic that is. I need to try to find out what vacancy in the area is.

The numbers seem mostly good, till you get to the utilities and taxes. There isn't much to be done about taxes. But I've heard of people implementing RUBS to make a significant increase in cash flow. Does anyone know if that is a realistic option here? Water/sewer alone are eating up $500 per month, which makes all the difference.

Any input on the numbers and what you might consider doing would be appreciated.