"Worth" It? (CA Duplex)

[Gary F.]

Hi, folks.

I'm in CA Bay Area, where rents and prices are very high.  I'm considering selling my private residence which a RE agent said should fetch about $800k.  Decent area duplexes (3/1 + 2/1) are about $1.0 mil. After selling my home and fees and all, my net profit should be about $730k, leaving about $270k loan. I plan to be owner/occupant in the 2/1 and rent the 3/1.  So:

Est. Mortgage =$1300/month

Prty Tax (stupid high in CA)=$1200/month

Insurance =$100/month

Est. Total monthly costs=$2600

Est. Rent/unit= $2400 for the 3/1 unit

Given that this area, prices are rapidly on the rise, the equity should increase and could possibly stabilize in the next 2 yrs.  Of course, I've no idea but I'm going in with that in mind.  Even since 2013, prices have gone up about $100k on similar properties.

Ive read about the 50% rule, but in this area, unless you're Mark Zuckerberg or Larry Ellison, its next to impossible to put that much down.  What do you folks think?