Great deal in front of me, but I have cold feet

[Jennifer Thomson]

A duplex was just listed in a town 20 mins from where I live (Canada). I am a virgin investor, but have purchased three primary properties in the past, so the buying process I am familiar with. I love the BRRRR strategy, and plan to manage the property with my husband.

Is someone willing to spend their Friday night helping me analyze this property with me?

- Duplex (up/down) that is vacant with 5 parking spots

- Main floor is 2 bdrms, 3pc bathroom (previously rented for $1775 + heat/electricity)

- Upper floor is a 1 bdrm, 3 pc bathroom and loft (previously rented for $1559 + heat/electricity)

- Two furnaces, two hydro meters

- Roof replaced (2011), siding/back stairs/some windows replaced (2012)

- School district neighbourhood and within walking distance to downtown core, water, shopping

- Asking price: $400k CAD 

- Property taxes $3299 / Annual expenses $7671 / NOI $32,337

I used the BP calculator, and it will most certainly generate money - it needs an update, but not a gut job.

Comps in the area vary from low $300s-$630s

I am booked to see it on Sunday, but there are already 6 showings ahead of me. I'm sure she's going to fly before I get to it....

Just seeking experienced investors to review this, as problems/concerns that may be obvious to you won't be to me.

Thank you so much for the help!

* DM if you want pics of property to help with assessment :)