What does $10 per unit mean for 388 units=  $10 x 12 months x 388 units= $46,560 additional revenue with no added cost, other than sending out a notification letter.So, $46,560 more revenue and pure cash flow. 

The published cap should be used purely as a guideline, whereas the final determination could vary. 

Are you living in it or is it a pure investment property? 

From a pure decency perspective, it's unforgivable for sponsors to not communicate to their investors. 

It’s great that you’ve already started practicing with NOI and cap rates for evaluating properties, but you're right that smaller properties, like quadplexes or less, are often valued differently.For residential properties with four units or fewer, the market tends to focus more on comparable sales in the area rather than purely relying on income calculations like cap rate.

Assuming this is purely for investment sake, $55k on a $615k property isn’t a good use of your $$$.

From a pure numbers perspective, it appears to be a very good deal.

Its not real complicated, its purely a math question.

If you're buying it as purely an investment property - project for a 20-25% down payment.  

If i were to be a billionaire, i wouldnt mind to put 1 mio in a pure speculative bet.