Duplex Deal Analysis

[Vince Wiley]

In addition to the SFR I posted about yesterday, I am also considering a duplex. Each side had 3 bedrooms 2 baths a 2 car garage and a basement. These would easily rent at $750 per month which is slightly below market rent. The seller has it listed at 139,900 but I would like to get it at 135,000 with 7,500 down. This would bring my numbers as follows:

Monthly Rent - 1500

Principal and interest - 693

Taxes - 1850 yr (154 month) estimating conservatively 

Insurance - 1200 yr (100 month) also an estimate

Capex - 150 month

Maintenance - 150 month

Vacancy - 120 month (8%)

No property management due the self managing

Tenants are responsible for all utilities (separate meters for electricity, gas and water.  Sewer and trash is also included in the utilities billed by the city)

This projection pending verified taxes and insurance numbers brings me to $133 cash flow per month.

One side has all new flooring and carpet as well as paint.  The major thing that concerns me is the age of the central electric system, hearing system and water heaters which are all 15 years old.  The roof however, was completely replaced in 2013 with one layer.

This would be an FHA loan with me residing in one side for at least a year and then moving out and renting both sides. Therefore these numbers are based on both sides being rented out.

What thoughts do you have on this deal?  What would you offer based on the information I have provided.  Thank you so much in advance for any and all responses. The BiggerPockets community is amazing when it comes to helping out a newbie like myself!