How Much Would You Pay for This Duplex?

[Mark S.]

Hey guys, 
What would your max offer be on the following property:

Duplex (950 sq ft each) - 2BR / 1BA units.  30+ yrs old.

MONTHLY INCOME
Rents: $500 x 2 = $1,000/month.

MONTHLY EXPENSES
Vacancy loss (@ 8% or 1 month): $80
Property Mgmt (@10% only when occupied): $100
Property Taxes: $70 (from PVA)
Property Insurance: $75 (estimated)
Ongoing Repairs/Maintenance (@10%): $100
Cap-Ex/Maintenance Reserves (@10%): $100
TOTAL MONTHLY EXPENSES: $525 (which seems in-line with 50% rule)

FINANCING
20% down, 30 year fixed loan, 4.70% interest rate.

Principal & Interest Payment
At $55,000: $228/month --> Monthly Cashflow (CF): $247
At $60,000: $249/month --> CF: $226
At $65,000: $270/month --> CF: $205
At $70,000: $290/month --> CF: $18

Purchase price will likely be between $60,000 - $70,000, but want everyone's opinion.

REPAIRS NEEDED
At first glance, minimal repairs seem to be needed:

1.) One unit needs to be re-painted.
2.) Flooring likely needs to be replaced (tile).
3.) Gutters on outside need fixing.
4.) Possible beetle/bug problem.  Saw at least 4 during walk-through.

OKAY, EVERYONE, LAY IT ON ME!