Is this a good option?

[Martin W.]

First rental property for me.  Have for a long time been wanting to get a rental property and I have settled in a place where I'd like to live for a long time.

I would prefer to get my first property close to where I live and one of the properties abutting mine is a rental.  I got to talking with the owner when I moved in a year ago and expressed my interest in getting into real estate as a side gig.  I have been looking on and off since then and I found a nearby property that is a gut job that looked interesting.  I contacted a real estate agent regarding the property, but decided that it was too much work for me, so I backed off.  Fast forward a month or two and I get a text from the owner of the property next door to mine saying that she wants to sell now...

Here are the details:

Property located in Stillwater MN

Zestimate: $200k (tracks fairly well with our property I purchased a year ago)

1880's house

Up/Down Duplex

900 sqft each unit

rent 1000-1100/ unit

Taxes: $3600

Insurance $1100 (actual quote - is this high or low?)

gas heated - renter pays

electric - renter pays

I know one of the renters, and they love the place.  They just bought a house and are moving out in January, the other tenant just moved out.

assuming 50% rule and 4.5% 30 year mortgage I will cash flow about $3100/year, is this ok?  Is 4.5% an OK rate for 25% down (credit score 801- actual quote)?

Other than inspection etc, what should I think about, especially when it comes to the financial part of it?  I will manage myself and have experience with plumbing/carpentry and electrical.

Thanks for your time reading this...