HELP! Is this a good deal?

[Lance Nelson]

So I found a property in a nice neighborhood in Portland, Oregon. This would be my first deal. Asking price is $475,000 and it's a 3BR home with a separate entry 2-3BR in law sweet downstairs. The place needs some work to get it ready for rental, I'm thinking about $30,000. I think the house would rent for about $2000-$2100 and the ADU would rent for about $1500-$1600. I would be using a 3.5% FHA with $16,625 down. Here are the numbers I've calculated.

Rental income $3600

Monthly expenses $3225 (5% vacancy, 5% Cap Ex, $100 repairs)

Cash Flow $345

Rehab $30,000

Total Investment $51,625

ROI 8.02

Cap Rate 6.71

Any thoughts on whether this would be a first good deal? Thanks in advance!