Deal feedback Duplex 87,000

[Nathan Gilbo]

Hello All,

      I am just looking to get some feedback/ a different point of view on this deal I am currently looking at.

      List price is 87,000 it is a duplex.  The owner will finance with 12,500 down with payments of 475 a month and ballooned after 3 years (I am going to offer 5 years).  The taxes are currently $4800.  Current rents (rented) are 900 a piece.  All heat, water, and electric is tenants responsibility.  I will be using a property manager for this one and the market rate for that area is around the 10% gross rent (plus a half months rent if they find new a new tenant).

     Thank you in advance for the information and collaboration it is greatly appreciated! 

Sincerely,

Nathan Gilbo