What do you think about this deal?

[Loren S.]

I'm a newbie to investing, and I think I've found a decent deal that has huge potential, but the cash on cash ROI is only 7.51%. So, I wanted to ask the board for an opinion on this deal.

Summary:

• Condominium
• Purchase price 75k
• 1 bed 1 bath
• 612 sqft with an 70 additional sqft (non-heated) sun room area
• Built in 1975, but in great shape
• Located in Charlotte NC
• Neighborhood on the rise (1.2 million dollar homes, and 800k+ million dollar homes for sale and being built on the same street
• School district all 9's

Financing options:

• 30 year fixed at 5.5%
• 10 yr ARM at 4%

Numbers below. Would you make this deal?