First duplex deal inside

[Gabe G.]

I currently own 3 SFH.

I have a deal on the table for my first duplex. Its 3 bed 1bath units, that currently rent for 575 a side, owner pays water/sewer, tenant pays everything else. about 900 sq ft a side. Downtown indianapolis, in a "ok" pocket, within walking distance of Irvington. Unit has recent roof, and central ac and heat on both sides.

Selling price $59000

Owner will seller finance with 20 percent down, and the balance for 3 yr at 30yr ammorization at 5 percent.

Total income $1150 per month

P/I $257 a month

Taxes $120 a month

Insurance, 50 a month

Using the 50 percent rule, I see NOI of $318 per month.

And cash on cash return of 31 percent.

Obviously will get it inspected.

But does this look like a decent deal?

Anything to watch out on duplexes that dont apply to SFH?

Thank you

[Mike D'Arrigo]

You're not usually getting families in duplexes so 2br 1ba is ok as far as duplexes go.