First Deal? Single Family for 120, needs 10, arv 165, 1300 rent?

[Matt Gee]

Found a non-mls home, Single family, good neighborhood, maybe a B.  Asking is 120k, I'm thinking 10k-15k in repairs (needs a new bathroom, some flooring, paint, kitchen refresh. After repair value of about 170k (based on comps it says 171k, I'm thinking 165k being conservative).  

It would rent for about 1200-1300

I can't find anything that hits the 70% rule, nor the 2% rule.  

So numbers breakdown:

120k purchase, 3k closing, 10k rehab.

133k in.

Mortgage payment (supposing 130k financed at 4.5%) is 660

Add 175/mo taxes

Add 50/mo insurance

Add 75/mo water

about 1200/mo-1300/mo rent.

that leaves about 325/mo cash flow... Is this a horrible deal?  Mediocred deal? Good deal? My goal is a combo of BRRRR/ ~5-10 year hold... I'm having a hard time of figuring this out.