[Calc Review] Help me analyze this deal

[Kurt Michaelson]

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*This link comes directly from our calculators, based on information input by the member who posted.

Before I send the listing agent an offer, the property owner is asking $478,000. I have not visited the location, but the pictures show that the windows (28) should be replaced and landscaping improvements.  All 4 units are 2/1 and on a 6 month lease. Per Loopnet, all units have been remodeled in 2013 and the property is being sold as is, no repairs, no termites,  and warranties.

I have asked the listing agent the following questions and await his reply:

• Could you tell me what was remodeled in 2013?
• What is the typical Cap Rate for this area?
• Why is this property for sale at this time?
• Is the seller willing to carry a note for seller financing?
• Would the seller consider a cash offer rather than traditional financing?

Thank you in advance to anyone who reviews this and any additional recommendations to consider.

If the seller is willing to sell, as-is, I was thinking of offering $399,000 to purchase using a  Private Money Lender.