Does this sound like a good deal?

[Willy Ayala]

Hi BP Family, I have been listening to the BP podcasts and watching the videos for quite some time.  I am a new investor and would like your feedback regarding the following deal in Wiley, TX.

Single-Family Home - 265k - House appraised for $275K

Interest rate fixed 3.625

Down payment & Closing Cost $70258 (20% plus closing costs)

Tenants have an 8-month lease left at $1950 a month and will most likely renew their lease (same rate). 

Income: $1950

Expenses: $1503

Cash Flow $447

COC ROI = 7.63%

What do you think about the COC ROI percentage? I was thinking about holding the property and then doing a cash-out refi to get some money back to get another property.

Thanks in advance for your input and feedback.