need quick help on my first rental buy

[Maggie H.]

I am looking at my FIRST purchase of a rental property OOS.

The home is in DFW area, $150,000, morgtaged for 30yrs at 5.33% with 20% down. Rent estimate is $1750. I ran my reserve numbers high, so total expenses would be $1603. That gives me a monthly cash flow of $163 (50% rule is $208). CoC ROI is 5.66%.

IS THIS A GOOD DEAL?

I am a little hesitant since this doesnt meet the 2% or 1% rule, but it sort of meets the $200/door SFR rule. I really liked the house/neighborhood/schools and this is a low vacancy area, even though ran the rate at 6%. I am also afraid that if I don't jump on this deal, I m going to continue dragging my feet and never take the leap.

Thoughts?  

(PS, this is a popular area and last time I found a deal similar to this, it was gone before I took action...)