The taxes are around $4,000 total, the insurance around $3500 and the remaining $23.5k is for CapEx, vacancy, and repairs as these are older properties.This is more of a back of napkin estimate.Secondly, it is $230,000 total.

While you should always run the numbers yourself, my guess is that this proposed property will not get anywhere close to $1000/month in cash flow.The "back-of-the-napkin" equation BP'ers use is the 50% rule.

Alternatively, I have done back of the napkin UW on deals that ended up trading for nearly $2mm more than my first brush.As for priced deals, yes there are times the highest bidder does not get the deal.  

For a quick, napkin math, analysis of a site I start by taking 15% of the acreage out for roads, leaving the rest to give me my number of lots.

Landlords accuse tenant of clogging drains when they put baby wipes and feminine napkins in toilets, but those items are supposed to be flushed through toilets and when the pipes are in good condition those items will not clog the drain system.

What back-of-the-napkin numbers would you apply to estimate what your cash flow expectations should be once you've invested the funds (knowing what you know about what you can accomplish in the market once you have the funds in hand)? 

Deal5 plex- Four 2-1 and One 1-1Current rents 4650Possible to raise to 4800-5000Asking price 475,000, offer of 450,000 accepted. Place is in excellent condition and well maintained and fully rented. New roofAll new ba...

In the end, I agreed to $10k in improvements, 2 months free rent, replace half the windows, install submeters, re-line the parking lot, and some initial landscaping on my dime rather than on CAM.Total package ended up being worth about 10 months of rent out of a 5-year lease, (Napkin math: $20k) and the improvements do have some value to me, as well as being tax-deductible at 100% as QIP.

@Travis Hutchinson if you have a site plan or a survey of the property I could do some back of napkin zoning calcs for you; DM me. 

I also would be out driving and a lead would come in so I was writing their information down on a napkin in the car or on my hand and had papers everywhere trying to keep up with the information.