Potential First Property - am I analyzing correctly?

[Sarah Giffin]

Hi All! I've been doing lots of reading/researching/listening and am finally about to pull the trigger on my first property! It will be a buy and hold using the BRRRR strategy. Either I'm running the numbers wrong, or it's a no brainer, so I need some advice. SFR in CT listed for $87,500 (would start offer around 70k). 2 bed/1 bath, 624sqft. Property taxes last year were $3,432, tax assessed value $68,740. It needs some updates (~15k), but a comp within sight distance of this property that has been updated is listed for $139,980, so I'm estimating my ARV at $130,000. Rents in the area for similar units range from $1000-$1200/mo. I'm showing a GREAT cash flow. What am I missing??