Deal Analysis for a Duplex

[Shaun Inniss]

Currently under contract for my first deal, a New Construction two story Duplex located in the Sunnyside Area and currently doing my due diligence before finalizing the deal. Asking price of this Duplex is $475k. Financing the property through FHA and I plan to live in the property for a year. With the rental rates being upwards of $1850 per unit and mortgage payment is estimated at $3275.73, Im aware that this property won't cash flow immediately while it is my primary residence but plan to keep it as a rental. In total i will bring around $37k to close.  While house hacking the investment it would not be cheaper than renting another apartment but will potentially cash flow once I move out. Contemplating if this is a good deal now and long term, does anyone in the Houston Market have any advice in regards to analyzing this deal?

Thanks in advance.

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