Analysis of a Potential Rental

[Andrew C.]

I am still learning the rental business and would like some thoughts on this deal for a rental. What would you rate this deal, scale 1-5? 

Purchase: $160,000

3 bed, 1.5 bath in Fontana, Southern California

1110 sq ft condo

Two Story Unit, patio gated with parking entry, new cabinets with granite counter tops, new stainless steel appliances, new paint, laminated wood flooring, new carpet, new bathroom vanity and toilets, new shower tub, new blinds. Washer/dryer hook ups located in private closet area, so I would need to buy a washer/dryer. 

Looks like it was fixed up for a flip, so it's just about ready for a tenant.

It would pull in $1350 in rent.

Unfortunately, it has HOA dues of $275/month.

Please rate this deal as is, say a 3 out of 5? What are the issues with this deal. What price would make this deal make sense. Etc. I appreciate the advice. Thank you.