@Jeff CaravalhoIf it were me, I would factor in the following: How long has he been a tenant?

I understand $/Cap rate but how does that factor VIA interest rates which can fluctuate from investor to investor? 

Here are some numbers on it,Revenues:Two upper units rent: $710/monthTwo lower units rent: $660/monthEach unit has an external garage that rent: $50/monthTotal - $2940/monthExpenses: Taxes: $6140/year Insurance: $1200/year Utilities:Well and septic.

Here are some numbers on it,Revenues:Two upper units rent: $710/monthTwo lower units rent: $660/monthEach unit has an external garage that rent: $50/monthTotal - $2940/monthExpenses: Taxes: $6140/year Insurance: $1200/year Utilities:Well and septic.

Here are some numbers on it,Revenues:Two upper units rent: $710/monthTwo lower units rent: $660/monthEach unit has an external garage that rent: $50/monthTotal - $2940/monthExpenses: Taxes: $6140/year Insurance: $1200/yearUtilities:Well and septic.

The house was in an older area of a city that has a high crime rate; however, the area held the value higher than other areas of the city due to the country club it was next, and many other factors.

Certainly you can get rents that high in Bartlett, but there are more factors that we need to be able to tell you if its a good deal!

The property has been on the market for more than a month, but with barely any showing, I know the price is the main factor in people not coming to take a look but I am trying to figure out what's the right price for the proprty and if there is something in the ad that I am missing.

Dont forget to factor your rehab when putting together an offer. if you're serious, get a contractor to give you an estimate on the rehab so you can better understand what its going to take to bring this property up to your standards. finding a distressed property and using the 203k is probably your best bet to make these rules work in your favor. 

Maybe tenants will factor that in and it'll take some of the sting out of those high bills.