ROI on First Duplex - What do others shoot for?

[Chris Heeren]

I'm currently closing on my first Duplex at the end of the month and would like to know what others can realistically expect for an ROI? Here are the numbers I'm projecting, please pick it apart and let me know what I am really in for on this deal.

2-Units both are 3bd/1ba w/garage

Purchase Price: $55,500

Down Payment including closing costs: $12,200

Plan to put an additional $1,500 into the building immediately

Currently both occupied with a net Income of $1,230/mo ($630 & $600)

Vacancy Allowance (8%): -$98/mo

Taxes $254/mo

Management Fee: $86/mo (7%)

Utilities (Water and Common Electric): $62/mo

Insurance: $39/mo

Mortgage Payment: $289/mo

Repairs & Maintenance: $150/mo

Cash Flow: $350/mo

Yearly Income: $13,580

Yearly Expenses including Mortgage: $10,569

Profit: $3,011

ROI = $3,011 / $13,700 = 22%

What ROI do other investors shoot for when buying rental properties for cash flow? There are plenty of houses in my city that I've calculated to be around this ROI level and plan to keep buying these as long as the 'actual' numbers work out.