Duplex Deal

[Matt N.]

Hi All - Newbie here. I am looking at a duplex (top floor/bottom floor). Price is $85,000. Rents (or at least what they say in the posting) are $750 per floor; however, I am a little skeptical as average rents in area are $1200 for both. I am planning on being the occupant of one floor, and my goal is to pay for my mortgage and expenses completely. I want to assume I would only get $600 for the other floor, rather than the $750. I want to assume 50% expenses even though I will be living right next door and taking care of my unit myself. 

The area is in a pretty good area. Zillow has the estimate of the property at $110,000 but this property has been bought and sold 3 times in last 6 years. Foreclosed once about 6 years ago. It has been listed on the market on and off for past year. There was a pending sale and then it went back on market at same price and has been. Any thoughts? Mortgage rate is 3.8 percent. This is my first property I will be buying. I am currently shelling out $ for rent and decided enough was enough. Would love any suggestions or guidance on maybe what to check into on this property. Thanks!