First student rental condo at Clemson, SC. Is it a good deal?

[Angel Huertas]

I am looking at a rental condo in University Village at Clemson with details below. This will be my first rental property so want some advice.

Purchase price - $195K

Down payment - $59,176 (25% plus other closing)

Annual rental income - $29,424 ($2,452 a month for 4BR)

CoC return 10.7%

Cap rate - 9.7%; Price to rent ratio - 6.6

Cash flow will be over $5k per year after paying taxes and mortgage.

Everything points that it is a good investment. Am I missing something?