Buy and Hold SFR - good numbers?

[Derek Martin]

Working on a deal and would love to hear the collective thoughts of everyone here. This would be my fifth single family residence. I walked through it yesterday and there do not seem to be any major problems. No known rehab or maintenance needed at this point. 

It's an old (built in 1913) solid home in Joliet, IL. Rehabbed in 2010 by current owner. Rented ever since to a section 8 tenant. She wants to sign another 2 year lease. I have section 8 tenants in other properties and am aware of everything that brings. 

Sale price: $40,000

Rent: $1100 ($65 paid by tenant; $1035 paid by Section 8)

Taxes: $3200 per year

Insurance: $900 per year

Water: $60-75 per month

Monthly Maintenance: unknown

Cap Ex: needs a new water heater within the next year; has a newer roof

I'll get an inspection. I'll keep the same renter. The town isn't great but it's not horrible either. An agent gave me a value of $69k, but I don't put much into that. There's properties nearby that are in foreclosure and run down. Other properties on the street are old Victorian homes selling for $120k. It meets the 2% rule. What else am I missing?