Investing in Midtown Houston - with a Cash on Cash of 6%

[Account Closed]

I have an offer I'm set to close on for a studio in the Midtown Houston area.

I'm looking for feedback and maybe a sanity check.  I'm trying to avoid paralysis by analysis. 

Let me know what you think of the deal? 

I'm a first time real estate investor so I'm skeptical and being cautious of not investing with emotions. 

I'm calculating a 6% cos with a 31% ROI. I'm going with a 15 yr mortgage as I'm hoping to have it be a pure cash flow during retirement. I'm putting 10 down by the way.

The studio is off Main Street with a sq footage of 466. I'm getting it for $75k. I've estimated from realtors and contractors that it'll take $8.5k plus a Murphy bed to command rents in around $1.3k.

I'm looking to fix it in mode of the Houston micro condos in that area. 

 The cash flow isn't great but I understand that it's a by product of the 15yr mortgage and what feels like a B class property. 

What do you think of the deal?