Duplex in IN

[Andrew Meyer]

So I am looking at a duplex, I will be hosue hacking, but that isn't really affected by analysis.

It is a 2 unit, 4/2.5, with 1 car garage each side, built in 1994 with 3400 total sq ft (~1700 ea side). It is in a midrange area, probably B to B-, maybe C+ at worst. Rent is reported to be $950 on the one unit that is rented with a long term tenant. Asking price is 165k and reports vacant side was renovated with new paint/carpet. Seller is reporting insurance costs are $1200/year, and I found taxes to be approx at most $4400/year without exemptions. I'd probably do a few minor repairs, but should be under $5k.

So just off the bat, it is well over the 1% rule, approx 1.15%. Now with the 50% rule, if i did 5% down I would only cash flow about $200/month, BUT if I did 20% down which would be the most common for an investment property, I would cash flow $320 month. Cash on cash return at 5% down is actually 30%, and with 20% down it is only 12%. 

Now if I get get 10-15 lower on the price, it would be a great deal, but even at their asking price of $165 it seems to be cashing flowing well.

So does anyone have any input on something I missed or looked over?