Help analyzing first potential property buys

[Alex Johncock]

Hello all, I'm new to real estate to the bigger pockets forum, but have listened to many of the podcasts. I've been doing reading/research on real estate for about a month now and I'm interested in getting some analysis feedback from some more experienced folks.

I have found a couple of properties in my hometown (Kalamazoo, Mi) that seem like the numbers work. In fact they're good enough (in my maybe naive opinion) that I'm wondering if I'm doing something wrong. Both properties have been on the market for months, so I've got to be doing something wrong right? I'd love to hear your $0.02.

Just a brief history on the the area. The area these properties are in is a "historic district". Most of the properties in the area were built in the late 1800s or early 1900s and the two in question are no exception. They were both built originally as single family homes and have since been updated/converted. One is a duplex, the other a fourplex.

Here are the numbers in a screenshot for lack of better way to do it.

https://www.dropbox.com/s/z19cp5rau1qyyv3/Westnedge.tiff

https://www.dropbox.com/s/0xzceriju9lr5lm/Woodward.tiff

Are my estimates way off? Am I missing something entirely?

What do cash-flow investors usually look for for monthly or yearly returns?

Any guidance anyone can provide would be great. Thanks in advance!!