Duplex - Rentals/New Con

[Jeff Brown]

I am new to real estate and I just purchased some property. I paid 60k for the property but I noticed that I am able to build small multi family on it. I would like to build a duplex on it and rent in the area is going for 1700 2/2 and 2200 for 3/2. It is in a great part of town and also has an excellent school zone. I would like to build a duplex on the property and after getting some rough numbers it would cost me about 380-400k. I would have to put 10% down.

Would this be a good investment? Any help is appreciated, thanks.