This property has been on the market for 422 days, about 14 times longer than the typical 30 days in this zip code. The seller bought just a year ago, so they have very little equity built up and a real reason to sell soon, that gives you room to negotiate. The catch: even before setting money aside for repairs and vacancies, monthly cash flow is already negative at the asking price. The upside is the estimated value is $388K, so buying at the recommended offer of $364,500 puts you about $13K below what the property is likely worth on day one. Even at that price, rent doesn't fully cover the mortgage payment, so plan on keeping some cash in reserve. Best thought of as a longer-term hold: rent growth should turn cash flow positive within 18 to 24 months.