Allegheny County Sanitary Authority - they clean the waste water.Yeah I didn't factor in ALCOSAN either.

Is it well lit, clean, freshly painted and sanitary? 

Here is the back of the napkin math.Rent/50%=ROI(House cost-land)/27.5=DepreciationNOI-Depreciation=Taxable Income per houseNOI-(taxable income*tax rate)=After tax income per houseExpected spending/After tax income per house=number of houses needed to retire

With purchase closing costs at 3%, it looks like you intend to finance it, but you don't mention the details - so I will assume all cash purchase.here is a cocktail-napkin analysis (link only good for 7 days from now).If I plug all those numbers into the flipping calculator on BP and I get a maximum allowable offer of $93,810.

for napkin math just use 50% of rent up to a rent of about 1200.. that will be uncannily accurate.in your state though got to really focus on prop tax's  end of the day profromas are all just blue sky.. 

Back of napkin, the pricing isn't really out of whack (given plenty of assumptions).

The national range for equilibrium is 6.5 - 7.5 (though it may vary in local markets).You'll also want to scout out the competition to see how they are doing - what is their occupancy, street rates, etc. so that you can do some "back of the  napkin" figuring on your own to see if it makes sense to move forward.Please note that if you're going to pay for this all on your own with cash, you can do whatever you want. 

Apartments behind retail should be no problem in and of themselves. if traffic, ingress/egress, sanitary/sewer/stormwater, etc. are compliant or variances are granted for all those things, I see them all the time.

@Jamie Montpellier  quick back of napkin I always use is 3500 to 5k for baths... 10 to 15k for kitchensthose are gut and replace numbers... this is usually half or so of a rehab.

Not because it was special but because it what I get from my napkin 50% rule math.