Please analyze this deal

[Rich Abbott]

Hello BP community -

Hoping to get some feedback on this property that just came up for sale in my local market.

The numbers -

Asking price is $300,000 but I would offer and pay no more than $285,000.

Taxes would be $5,500 per year

Rents for each would be conservatively $1,300 per month and probably closer to $1,500 per month.

If financed with a standard loan @ 4.5% i see PMTI at $1,700 and with a HELOC for the 25% down that payment would run $500 per month. So all in my costs would be about $2,200 per month and rents would be between $2,600 and $3,000. The duplex was recently remodeled so up front cap ex would be minimal.

Cash flow would be $400-$800 per month before vacancies and cap ex.

Seems like an OK but not great deal, but curious on thoughts.