Potential Duplex Developemnt...Check Out The Numbers

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I have a great spot for duplexes and the area needs nice rentals.

Land $18,000 2 acres I think I could picked it up for $15,000

936sft duplexes at a building cost of $45 per sqft... Total of 84,240. $85,000 to be safe

Permits, utility hook ups, road through property etc. $10,000.00 rough estimate

Total in at $113,000

Rent $800 x2 $1,600

Payment $815. Includes property taxes and insurance.

5.5% at 20 years with $37,000 down.

35% For maintenance, vacancy $275

I figured I could drop to 35% instead of 50% with them being brand new.

Net $510

ROI 16%

How's that look?

Also there's room for a total of 5 buildings (10 units) for the future.