Help Analyzing Multifamily Deal

[Grant Scott]

Hi BP,

I am looking to purchase my first rental property. It is a 9 bedroom, 3 bath, tri-plex. Each unit is 3/1. Property was foreclosed on and is listed at $290k by the bank. Numbers are below:

Asking: $290K

Repairs needed: $115k

ARV: $450k

Total rent: $5400/month

Taxes: $625/month

Utilities: Separate meters -  tenants pay

How much would you pay for the property? Is it a goo deal with the current numbers.

Thanks for the help,

Grant Scott