Analyzing My First Deal

[Raymond Y.]

Noobie from New Jersey here. I am interested in the Allentown area and wanted to get the locals to check my numbers. Lately, I have been checking on Zillow to understand the market and I found this one that looks like an okay deal. I am still getting up to speed on everything, so most likely I am going to pass on this unless this is a home run deal.

Notes:

Listed at 50k and for this purpose, I am assuming I can get the price down to $40k

20k repairs: From the pictures, it seems like everything is in good shape and just needs some touch-up.

$80k ARV: based on what other properties are selling for on Zillow after filtering for similar sq footage and bedrooms

1k rent: Seems like a fair conservative rate 

Property tax: pulled from the county's website

Vacancy/repairs/property manager - Are these amounts standard?

Insurance - I pulled this number out of thin air. What should I be expecting?

Thanks in advance for anyone that takes their time to look through my analysis!

Home in discussion:

https://www.zillow.com/homes/for_sale/Allentown-PA...