Question about potential investment property

[Darren Wendroff]

Hi all, I'm thinking of purchasing a property in Orlando, it's in a poor neighborhood, but it's not bad and getting better. It's a 2/1 house, in good shape, 1000 sq feet, nice layout, nice yard. It currently has a good rentor who $700/mo on time and in a contractor who fixes things that break in the house. I could also rent the property for $800. 

The asking price of the home was $59k, and we negotiated for $52k cash, I'm wondering if this is a good investment. In Orlando, this property has the potential to rise to $65k in a year, and I can raise rents to $800 in a year also. 

But it's a cash offer, wonder if I'm paying too much or if the ROI isn't strong enough. Thoughts?