55k property - buy and hold - cashflow

[Chris Pasternak]

Hello guys.

I have just finished looking at a duplex that is fully rented. Both units are 2 bed/1 bath and rent for 540.00 each. The property is listed at 62k, however, the owner has already told me he would accept 55k. With that said, at 55k, according to my calculations my ROI is 12%, COC ROI is 45%, Cap rate is 11%. Do I pull the trigger on this? This is my first real estate deal ever. It looks like the property will cash flow at 322.80.

Thanks guys