First Time Real Estate Investor. Duplex Help Needed!

[Nathan Ley]

Hi BiggerPockets! I am grateful to have found a forum comprised of such knowledgable real estate investors.

Background: I am a 27 year-old military officer with no prior real estate investing experience. My investment experience to date is stock market based (options trading, long term holdings in a Roth/Brokerage acct).

I am asking for helping analyzing a duplex for real estate investment.

Address: 113 Limestone Ct, Clovis, NM 88101

Property Info: Built in 2007. Near Air Force Base. All electric. Each unit is 2br/2bth approx 1200 sq ft, 1/2 tile, 1/2 carpet, washer/dryer hookups, one car garage with one additional parking space outside. Each unit is currently renting for 975$/month, which is conservative based on local duplex prices. Both units have been without vacancy since built in 2007.

Asking price: $255k.

Offer Price: $245k. (likely to be accepted, as broker is the seller and she is willing to deal).

Loan Info: Owner Occupied VA Home Loan with zero down @ around 4%. (I would be occupying 1 unit for approx 1 months prior to upcoming deployment, and renting thereafter).

Approx Mortage Payment with insurance/tax/etc: $1526.00

Closing costs: $342.00.

I would be asking $1000-1050/month rent.

Based on my estimates when renting both units, cash flow @ $1000.00/unit/month would be $2,216/yr.

Link to property photo:

http://www.zillow.com/homedetails/113-Limestone-Clovis-NM-88101/2109210176_zpid/

Any help or advice would be greatly appreciated. Like I said, I have a fair general understanding of ROE/ROI and economics; however, I have no where near the experience as the rest of you on BiggerPockets!

Thanks in advance for any replies! Have a great day.

- Nate