Should I make an offer on this duplex?

[Jordan Sutherland]

Hello everyone, I would like to ask for some quick advise. I'm new into REI and i'm from West Texas. I have a fully rented duplex that I purchased this year and i'm looking to acquire another property. I found a duplex that I think I like, but I would like to hear your opinions as well! So here's the details: The duplex is in a wonderful B plus neighborhood, but it on a weird random street in the neighborhood that I would rate at a C(from A-D). The seller is asking $118,000. Both sides are 2 bed, 1, bath, 1 car garage, roughly 1000 square feet each. One side is rented for $650/month with a good tenant. The other side is move in ready and should be fairly easy to rent quickly. Seperate utilities, so the tenants pay all their own utilities, and I will be managing the property myself. My realtor, which is also my mom said that fair market rent would be $675-$700 each side. The property is brick, on a slab foundation, and a flat metal roof. It seems that all appliances are almost brand new and the place doesn't need any work anytime soon. A friend of mine will finance it to me at 5 percent over 30 years with only 10 percent down, and my closing costs financing with him will only be around $350 for the title company, etc. Also, this will leave me with plenty of cash reserves for both properties. ( my friend is a very conservative investor and he trusts me). Let's take a look at the numbers if I purchase it for $110,000 shall we?

Monthly rent: 1350

Mortgage: 533

Taxes: 160

Insurance: 100

Vacancy: 100

Cap Ex: 175

Repairs: 50

Initial investment: $11,350

Cashflow: $232/month  $2794/year

CoC Return: 24.6 percent

I expect a small amout appreciation in the area as well, but I know that's just "icing on the cake". What do you guys think? Should I go for it? Any input is greatly appreciated!