Analyze this deal - Memphis TN

[Abdul Azeez]

Hello Folks - I am being offered a turnkey property in the following neighborhood on Scottsdale Ave zip 38115 for $120,000. It is classified as a B+ neighborhood. The house in question is a 4/2 with projected rental income of $1295. I have run the calculations using the following forecasts - 10% management fee, 4.5% 30 year fixed with 25% down and vacancy allowance of 12.5% (assuming an average tenant would stay 2 years with 2 months to acquire the tenant and 1 month of rent as commission. So close to 1.5 months on an average in a 12 month period leading to 12.5%). I have also used 10% as a maintenance and CAPEX reserve. Using all this, it comes to $227 per month on a free cash flow basis. Is this a good deal? Do my numbers above look good including the confidence factor on rental estimate? Also, is this truly a B+ neighborhood or are there other factors to look at?