2 Family deal in New York State

[Andrew Martin]

Hello BP I am working ong the following deal and wanted to get your thoughts.

This is a 2 family home in a middle class area

Home price - $34,900

Seller will finance with - $8,000 down @ 6%

Each unit is currently rented at $650 a month and no major repairs are needed. Comestic upgrades will cost $1500.

Tenants pay all ulities

Rent - $1300

Taxes- $190

Insurance- $70

Owner held loan - $180

Property Manager - $130

Vacancy allowance (%10) - $130

Maintance allowance (%10) - $130

Net Income - $470

What do you think of this deal?