Duplex 70k need help

[Samantha Klein]

Hi all, I am current in negotiations on a duplex in my town. Seller has countered my 69k offer with 72k and I have just offered 70k, the property needs about 3-4k in upgrades (my contractor charges me 1/4 what others do, he's a retired contractor who only helps me in his free-time). The normal selling price of a duplex here is 75k-100k+. This would be my first actual investment property that I won't be living in. How do these numbers look?

Purchase price - 70k

Repairs/updates - 4k

attorney closing fees - $500

Water, Sewer, Trash - $60 average a month (confirmed with previous bills)

Tenants pay all other utilities

Rents - $1100 total

Vacancy (7%) - $77

Maintenance/repairs (10%) - $110

Capex (10%) - $110

Taxes - $120 a month

Insurance - $50 a month

Cashflow All cash = $573 a month (9.2% COC)

Cashflow with a mortgage @4% for 30 years - $291 a month (23% COC)

Does this look good? I've been running the numbers for awhile, I am confident this is a decent deal, it's hard to find ANYTHING decently priced on MLS. This is a cash purchase.