Found a Deal. Is it good?

[Patrick O'Brien]

Hi Bp- Curious to see what you guys think about this deal. Any insight would be greatly appreciated. Property is out of state so very unlikely I will actually jump on this deal, being it would be my first deal and its out of state. Justing looking for some quick insight. 

Property selling off market for 58,000$ (Paid in Cash) 

House is in great shape, owner told me he put in 37,000$ into a remodel within the last 2 years. Photos appear that the house needs very little if not nothing done to it rehab wise. 

Rent is in section 8 housing and rent comes in on the 1st every month  Rent: 700$

House has passed all government paperwork to be section 8 compliant. 

yearly insurance is 345$

would need to use property management company to manage the property. 

utilities are paid for by the tenant.

Does this add up?