Deal or no deal?

[Chad Duncan]

I am looking at a property that is in an excellent neighborhood and the upkeep is really well done. It does need some interior updating but nothing I can't do myself with my dad. 

Here are the details....

Price - $300,000 ( seller absorbs closing costs 4%) 

Mortgage: $1789 roughly. 

Potential rent: 2,100/month ( I'm going to "house hack" in the smaller unit that rents at 900 per month)

Expenses: $175 for water per month. 

This is what I think a great market and potentially a good rental increase in the coming years. There is only 1 property for sale in this area as well. I looked at comparables and they range from 325,000 to 350,000 for the same type of duplex. 

What do you guys think about this deal. I'm making an offer to check it out tomorrow. 

As well, the 2% rule is non existent in my real estate market. Your lucky to get 1%. The CAP rate is roughly 5-6% and that's pushing it in my area. So with that in mind, what do you think I should look out for after I offer?

(I'm offering 295k)