Opinions on deal I'm looking at

[Virginia Jones]

I've come across a 6-unit building for sale. 5 of the units are 2bd/1ba and rent for $600 and 1 is an efficiency apartment with one room and a bathroom that has random month to month for around $200. I'm just using $3,000/mo since the rental of the small unit is so sporadic. 

Asking price is $275,000 and it appraised for $288,000 in 2014. 

Brick building built in 1941. Owner pays water/trash/sewer & natural gas for water and heat. A conservative average monthly cost for this is $500/mo. The tenants pay $1 per load for use of the washer and dryer so that helps out a bit. 

Taxes/Insurance are $252/mo. 

So, total fixed costs per month totals $752. It has a 3 year old metal roof and new windows. 

The owner is willing to owner finance with 20% down at 4% interest. 

Do you think this looks like a good deal? I have a duplex and SFH that I rent out but have not had experience with this type of building. I'm thinking I would want to offer $240,000. Does the $275,000 seem fair?