Is break even or less on rental ever ok?

[Dennis O'Banion]

Looking toward retirement which I would like to begin in 10-12 years, I am two years into my first rental in Denton TX which is returning around 11.5 ROI% and $360 per month cash flow after expenses on a 30 year note. I am applying extra principle to pay the loan off in 11 years.

I have an opportunity to buy another rental in Denton that I perceive as a good deal (about $15,000 below market at around $150,000) but to pay off in 15 years would take the home into negative cashflow of $150 per month. On a 30 year note the home would return 4.04% ROI with $137 in cash flow. If I am looking for cashflow for retirement does this second home make sense?