SFH analysis - Milwaukee (first property!)

[Wilson Lin]

Hi everyone, I would appreciate some thoughts and feedback on my potential first property. This will be financed with a conventional 30 yr mortgage at 4.75% and 20% down. 

• Purchase Price: $50,000
• Monthly Rent: $850 (should be able to increase to $950)
• Rennovation cost: ~$5,000
• Property Tax 2013: $1,436
• Est. Monthly NOI: $440
• Year Built: 1952
• Bedrooms: 4 Bathrooms: 2 Area: 1098 sqft

Thanks!