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

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

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.

Some have sealed batteries and some are replaceable.

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.  

Cheap curtains hung up on the first floor, a welcome mat, lights on a timer, battery operated fake candles on a timer, big size 11 men's shoes and big men's jacket hung by the front door, two empty dog bowls, a tie out in the back yard (for a dog), fan on a timer, foldable table and chairs with a tablecloth and centerpiece, and radio playing on a timer.