Multi-family, seller finance, analysis. Help wanted

[James Ehrig]

Hi all,

I have a possible seller finance option on a duplex. The rents are $750 per side. Both sides have been rented by the same tenants for 13 plus years. Market value rent is around $900. Property tax is around $175 a month. Owners utilities are around $185. Owner owns the property out right. If i put together a 2 to 3 option letter of intent. What should they be valued at? This property I would be looking to acquire for my own portfolio and only for cash low. My minimum deal standards are a NET NET cash flow of $350. Any words of advice will be greatly appreciated.

Thanks