Potential first Buy and Hold Deal

[Tyler Haskell]

Hello all,

I was presented with a tentative offer for a buy and hold property in Sacramento, and am looking for some guidance on if this seems like a decent investment:

Property is a SFH in a Class C neighborhood. Built in 1983, it is a 2/1 and about 821 SQFT with 230 SQFT for the garage. It is in a HOA of about 10 units. I have not seen the inside and have minimal numbers:

I can negotiate the price to $75000 - 85000

Currently renter occupied at $700

average rent within 1 mile is $860

I am told there is no rehab work needed, and the renter would be staying.

Principle and interest with 25% down or $18750 is $270 a month

HOA dues are $95 a month, renter pays utilities.

I have only estimated taxes and insurance at $150 a month

Not sure about closing costs or other fees yet.

By those numbers total monthly expenses would be around $515.

Cash flow is $185 a month.

Comps and other estimates put the retail value at $90k

Anyways, These are only rough numbers but the seller needs to know within the next couple of days if I am interested. Anything else I should be considering for expenses? How do the pictures look? What do you guys think?

Thanks!