Deal analysis

[Michael Marston]

Please help me calculate an offer for this investment.

1br home rented for $390 per month. Tenant occupied for 15 years.

1 br apt rented for $390 per month. Tenant occupied for 2 years.

1 br apt vacant for 1 yr. Seller not local and stopped asking relatives to show the apt.

5 storage/garages _ 4 rented for $50 per month. 1 vacant. 

Taxes $2,900 per year.

Ins $1,000 per year.

Tenants are separately metered and pay all utilites directly to utility company. They cut grass and clear snow.

Owner moved out of state and wants to sell this property.

Home and apts in decent shape inside. Could use some exterior upgrades. Garages need new doors. Double wooden doors on each.

I would pay 25% down and finance the remainder through local bank.

What would be your offer? 

Thanks for your help.