Advice please for investment

[Lorraine Martin]

Hey Yall,

My husband and I are thinking about putting a offer in on this property:

• $319,900 and 3.19 acres comes with it.
• 481 Midgett Farm Rd
• Concord, VA 24538
• 3500 square feet but old!!!
  
• 1880’s is this over priced?!!? 

this is between Appomattox and concord 

After I did my cals it would have 11.16% yield. Gross rent is 36000. We'd put about 5000 into it just to upgrade some things. Few hesitations I have... the house is 1880. What do yall experienced investors think about this deal? Is it not a good idea to invest in a 1880 home. We haven't seen the property yet and probably wouldn't before we put an offer on it. they are showing it 4/21 but I figured if we wait till then wed be going up against other offers. We went to look at outside and didn't see anything too concerning. My husband and I just want peace if this is a good choice. We currently have 2 single family homes, and 1 townhouse. Thanks for any input... advice....caution...etc. Part of me wonders how a home can be worth this much now too. The owner bought it in 2019 for $150,000!!!!!! 

Id like to have a Management company keep managing it for now since my husband works full time. 

Helpful info: We'd possibly offer 3315,000 $ Do an home inspection for sure!