Deal Analysis

[Tyra General]

I'm looking for advice from investors who are worked on deals with properties having 6+ units.

Please see the numbers below.
6 Unit Property in Baltimore
There weren't many comps to compare (apples to apples) based on what my realtor pulled.

NOI = $31,530
At Sellers Asking Price $240,000
Cap rate = 13.1%

However, as of last month, 2 units are vacant and I recalculated the numbers based on this:
NOI= $20,010
Cap Rate @ Same Price = 8.3%

I am trying to figure out the best cap rate for this property and calculate the ideal offer amount. I am planning to wholesale the property.

Thanks for your input.

God Bless,

Tyra