How to Structure this Deal

[Casey Kooiman]

I'm just getting started in Real Estate so have much to learn! Currently have an investment duplex and condo that, in my opinion, are doing well. Recently found a duplex I really like and was hoping to get some feedback to keep me in the right direction

House Price: $125k

Annual Taxes: $2700

Total Rent: $1455

Tenants pay all utilities except water ($1200 a year).

Place is in immaculate shape - unlikely repairs are needed any time soon.

Does this seem like a decent buy? Probably can have him drop the price to 115-120k. Seller is also willing to finance. He wants 20-25% down but is looking at me for the terms, but I have NO idea what to propose as this is new to me. I think I would prefer Seller Financing so I can utilize my bank for another property in the near future.

Oh - Seller has a mortgage on the property for about $60k currently.