Duplex 4/2.5

[Andrew Meyer]

I am looking at a duplex for house hacking. It is a 2 unit, 4/2.5, with 1 car garage each side, built in 1994 with 3376 total sq ft (~1700 ea side). Seller is reporting rent is 950 on the one unit that is rented with a long term tenant. Asking price is 165k and reports vacant side was renovated with new paint/carpet. Seller is reporting insurance costs are $1200/year, I don't have taxes yet. Owner is currently paying sewer/water and reporting $650/year (Which seems a little low for this duplex... $54 for water/sewer a month I am guessing is with 1 side vacant), but I would look at getting it paid by unit if possible.

So just off the bat, it is well over the 1% rule, approx 1.15%, but the 50% rule isn't as good (950 x2 and makes for very easy 50% rule haha), mortgage would be around $800 (5% down with owner occupied), leaving only $150 cash flow ($950-800=$150), but since it is a newer building (1994) and has already been renovated some, I think the 50% rule is a little high for maintenance.

So anyone have input that I missed? I believe the property was under contact a few weeks ago and was just put BACK on the market, so I'd be interested to know what happened.