Does this theoretical deal make sense?

[Andy Dunn]

I'm very much a newbie investor and while I run a successful software company, am still only learning about property. On my initial research I've found a couple of one bed apartments in a nearby town. Financially, I'd be looking at 30% deposit on a mortgage of €40,000. This gives me a mortgage payment of ~€160 per month over 25 years. The rent on the apartments would be €350-400, netting me around €190-240 per month (- fees). Does that sound like a reasonable sort of deal to start working towards a more passive income?