Category SEO topic research SaaS · Listed Flippa, verified listing, Canada Asking $49,142 (reduced from $185,000) · MRR $1,825 · Monthly profit $2,372 · Margin 83% Subscribers 134 · Churn 4.8% monthly · Age 5 years (the listing title says 4)
The listing prices this at 1.7× profit and 1.4× revenue, well under the 3.9× median for confirmed SaaS transactions. It has 134 subscribers, five years of history and a 73% price cut.
The profit figure is larger than the recurring revenue figure, and the listing does not say why.
| Risk-adjusted multiple | 2.7× |
| IRR at the asking price | 37% |
| Maximum defensible offer at a 30% IRR | $55,000 |
| Annual net revenue retention | 55% |
| Half-life of the current customer base | 14 months |
The model passes this at the asking price, but only on a conservative basis and only if new MRR keeps arriving. Both conditions are below.
Monthly profit is $2,372 and MRR is $1,825. Profit is 1.3 times recurring revenue.
At an 83% margin, $2,372 of profit implies about $2,858 of monthly revenue, or roughly $34,300 over twelve months. The listing's 1.4× revenue multiple points to the same range. MRR of $1,825 annualizes to $21,900. That leaves about $12,400 a year, or 36% of revenue, that is not in MRR.
It could be API sales, annual plans, one-off payments or a higher MRR in earlier months. The listing does not say which. It matters because only recurring revenue decays at a known rate. We ran the model on MRR alone, which is the lower and more defensible base.
Churn is 4.8% a month. The listing does not state expansion, so we assumed none. Net, the base loses 4.8% of itself each month.
To hold MRR flat at $1,825, the business has to add about $88 of new MRR every month. That is our assumption of what flat looks like, not a disclosed figure. With it, MRR stays at $1,825 for three years and the model returns a 37% IRR.
Switch the acquisition off on the day of closing and the same base falls to about $311 in three years. The IRR is then negative 14%, and the maximum offer for a 30% return is about $22,000. The listing does not describe where new subscribers come from.
The listing says an SEO Data API "powers the platform's data needs" and that it "can be purchased either standalone or bundled." It does not say whether the API is included in the asking price.
If the API is not included, the product depends on a supplier. The model applies its single-API-dependency adjustment for that reason. This is our reading of one sentence, and a question for the seller before an offer.
| Adjustment | Effect |
|---|---|
| Market median, confirmed transactions | 3.9× |
| Monthly churn between 3.5% and 5% | −0.5× |
| Data supply possibly outside the sale | −0.7× |
| Risk-adjusted | 2.7× |
Without the API adjustment the multiple is 3.4× and the maximum offer is about $61,000.
$49,000, with 30% held back as a twelve-month earnout. The earnout pays out if MRR measured in Stripe is at least $1,825 at month twelve.
The structure puts the retention risk with the person who knows how to manage it. A seller confident in the base loses nothing. Before any offer, we would ask for a Stripe export that splits the $2,858 of monthly revenue into recurring and non-recurring, and for written confirmation of what happens to the data API at closing.
Above $55,000 the return falls under 30% even on the favourable case. We would not go there.
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