Turn key deal

[DeAndre Mason]

I have a potential property im looking at that is one side of a duplex and is 3 beds 3 bath (1500 sq ft) with potential for a 4th bedroom in basement according to realtor. The projected rents on the low side if I rented out each of the 3 beds individually would be $1800/month. The property is outdated but rent ready and I wouldnt have to immediately put anything into the property besides down payment. The caveat is that the the seller has owned since 2010 and has not replaced any of the mechanicals. Is the risk worth it? I do have another property with some equity if needed in a pinch where something went wrong but I dont want to cash out refi that property yet as rates havent went down and it has a 5.6% fixed rate. I also dont want to take out a HELOC because of it eating up my cash flow and end up being net negative. The Comps give the property a market value of 200-220 but they are selling as is so they dropped the price. This is an on market deal.

Purchase price: $170,000

Downpayment: 20% (34,000)

PITI: $955

Maint/Cap ex/Vac: $270

Gross rent: $1800

Cash flow: $1800-$1225=$575