First Possible Deal

[Konrad Lightner]

Hey everyone, 

My wife and I have possible found our first investment.  We wanted to see what everyone's thought were about it.

Here are our numbers 

• duplex
• medium good neighborhood
• Property Price- $152,000
• rent income - $2,400
• down Payment - $38,000
• Cap Rate- 7.57%
• ROI - 4.35%
• 50% rule per unit - $189.49

It will need some work.  Probably around $15,000.  

Its been on the market for 41 days.  We are thinking of making an offer tomorrow for 100k but am worried that it might be too low.  What does everyone think?