Second purchase of a multi-family house with 3 apartments; maximum price?

Hello dear community,

I might have the option to purchase a multi-family house with 3 apartments. I would like to hear your opinion regarding the maximum purchase price. Below are some details for better assessment:

The multi-family house was built in the early 70s. Whether renovation is needed is not yet known to me. The house has three 4-room apartments, each with just under 100 sqm of living space. Behind the house is a large garden. Plot size estimated at 800 sqm.

One apartment is rented (and should remain rented, amount of rent currently unknown). We would occupy one apartment ourselves. The third apartment is to be gradually converted and integrated into ours (then over two floors), but this is not urgent.

Financial situation:

Equity: 15k
Allocation maturity building savings contract: 10k

Income:

He, 36, senior civil servant (A 9). Current net income 2950 € --> increase to A 12 secure (3800 €) maybe higher
She, 36, employee. Current net income 1100 € (part-time, will remain so).
Two small children: 408 € child benefit

Expenses:

Warm rent: 1000 €
Other monthly expenses (including insurance, food, gasoline, etc.): 2000 €

Now the question arises about the maximum price the house may cost. I would also like to use KfW, Bayernlabo, etc., maybe someone of you is familiar with that. Whether there are any costs for renovation etc. I can only say for sure after I have seen the house from the inside. But since it is currently rented, I assume that nothing major is pending.

Thank you in advance for your answers.

Please fill out the questionnaire, then it will be easier to give a meaningful answer - because there are simply too many missing details. Example: Your income amounts to 4,458 euros and the expenses exactly 3,000 euros. That makes a surplus of 1,458 euros per month. But your equity is exactly 15,000 euros. Something doesn't add up there, or you have only been saving for exactly ten months. Therefore: fill out the questionnaire.

Now the question arises about the maximum price,

Munich in a good location: €2 million. Mecklenburg-Western Pomerania in the countryside: €300,000. 1970s means: old heating system, old electrical wiring, old roof, old sanitary installations – all things that now need to be taken care of. Rented means: no one has ever really looked after it properly, because one rents out to make money, not to grant the tenants a nice life. Actually, all necessary information is missing. There is also no price that the house may cost. Whoever moves in there sees a higher purchase price as reasonable compared to someone who only rents it out. What does the seller want? What is the achieved rent? How is the location? What is the standard land value? What is the condition? What needs to be done? What would you like to do (not to be confused with the previous question)? etc.

Gladly. Can you please tell me where I can find it?

He, 36, senior civil servant (A 9). Current net income 2950 € --> increase to A 12 certain (3800 €) maybe higher

And we've had something similar here before. When is a promotion in civil service certain? When you have the certificate in your hand, not a moment earlier. "Been there, done that"

and something similar we have had here before. When is a promotion in civil service certain? When you have the certificate in your hand, not a moment earlier.
"Been there, done that"

That's right, you are correct, I will definitely stay until retirement at A 9. I don't know which authorities the others work in, but for me it's foreseeable. You don't have to believe me, but it is a fact nonetheless. Therefore, I would be grateful if this is accepted as given. Just like the low equity capital. There are reasons why more could not be saved up, but they are absolutely irrelevant. The fact is, there is that much equity capital and planning is done accordingly.