Need help estimating ARV

[Christian Cuevas]

Hello all,

So I am looking at this possible deal (to wholesale) but do not know how to come up with the ARV since there are NO comps in vicinity. The building has 5 units and each unit is 2 floors, 3 bed 1 bath each. Each apartment is rented out for $750 but that's low rent for the type of apartment since normally it would be like $750-$800 for only 1 floor, and these apts each have upstairs, downstairs and basement. Living room, dining room, kitchen and laundry room on 1fl and 3 rooms and bath on 2nd floor. So I feel like the rents on these apartments should be somewhere around $850-$900. All apartments are currently leased and in the neighboring area (within 2 miles) they are about to start construction on the first non-indian owned casino here in upstate NY. Please help, landlord is looking to sell fast and is telling me to make the deal happen. I CANNOT afford to let this one slip away. (It will be my first ever deal). Thanks for the help. And since you guys are great, I know I will be posting this success story soon. :)