help analyze rental deal.

[Adam Drummond]

hey everyone.  just wanting to get other opinions.  i am looking at a duplex for 35k.  both units rented long term at $400 per side.  neighborhood is an older neighborhood with sales recent sales from 55-120k for single family homes.  mostly older retired people from what i have noticed.  taxes are 1400 per year, and not sure about insurance yet.  tenants pay utilities.  thanks in advance!!

[Adam Drummond]

@Kevin Siedlecki        

I feel like this is a pretty good deal.  Ofcourse, i did post this to get other people's thoughts and opinions :) .  I have owned rental property in the past, and understand the costs associated with them.  In most of the rural areas near me the rents for a smaller apt such as this will only get $500 max per unit (houses get more for a 2br).  Once the apts are empty, I will do light renovation and raise the rent to $450 per side.  I have spoke to the property managament, and the tenants have been in place for years, and always pay early.  Unless i have the means of buying a large complex, I will not be able to realistically meet the $1k net per building in my area.