Level 1: the "are we remotely close to offer price" analysis  Take the gross potential income and allocate 50% - 60% (exact percentage is determined by property age, amenities, and current condition) of it towards expenses Then take NOI and divide by cap rate which gives us the high-level valuation This takes 5 - 10 min to do side note: another way to do this is knowing the average expenses per unit per year for that property time in that market then allocating that towards expenses instead of the 50% - 60% Level 2: the "ok, let's get serious and specific" analysis  If after doing Level 1 it makes sense to continue then Level 2 is done In Level 2, you use property and market specific information to run your analysisSome (but not all) things to consider for the specific market/property: taxes and how they are evaluated, vacancy trends, what's currently being billed to residents vs. what could be billed to residents (i.e. water), etc. 

For Sale: One giant sack of hot garbage, value add!

As you probably have heard at nausium the market is hot.  

The same was true in other hot pockets in Chicago.  

The 100k house had pipes burst and had water damage throughout the house.

For example thier is a $150 storm water assessment per parcel $22 masqueto control ect.  

I did however convert 102 unit apartment into separate condos ( complete rehab, even new roads, water lines the works .

Landlord pays ~$100 per month water only.Not sure how to proceed.

Water/Sewer $820*Notes* Seller has area for washer/dryer for all units to access and pays for electricity/water for that included.

Since not only is it on the water but it's close to a bug city with all the culture offerings we don't have .Oh well plan b !