Opportunities in my market

[Jeff G.]

I am getting close to making the move on my first property (duplex) I was planning on waiting until June for personal reasons but have the ability to do so now. A broker I had been interviewing told me she has 20 duplexes which they are releasing 5 at a time as to not flood the market, all are 100% occupied with leases. I told her I was very interested in seeing the ones in the better parts of town.

Here is where I am at. I have fallen victim to analysis paralysis. The duplexes she will have available will likely sell for around 50-60K this is common in the community. With rents per unit of $500-$525 on average per month per unit (2 bedroom), so assume a 50K mortgage with 20% down and 30 year term. Property taxes are right around $1200 on average. I have not yet decided if I will go the property management rout, this community is about a  45 minute drive one way from my house so I may.

When I run the numbers it seems to make sense.  Am I missing something obvious?

Thanks,

Jeff