First taste at Real Estate- Condo

[Mark A.]

Hi all,

My name is Mark Anthon.

This will be my first taste of real estate buying and holding.

I'm currently looking at a 3 bedroom 1.5 bath townhouse condo:

• Beds3 Bed
• House Size1,246 Sq Ft
• Price $149,900
• Condo/townhouse

• Baths1 Full, 1 Half Bath
• Price/sqft $120
• Year Built1977
• 6 rooms
• Fireplace
• 2 parking space
• it comes with private trash pickup, pool, and basketball courts

Average listing price for similar homes $229,794

Average sale price for similar homes $147,173 

if i'm following the 2% rule, I can roughly get out a $2.9K (or a little lower) rent out of this. 

Mortgage should be about $500

Property Tax should be about $150 ( i think)

Homeowner insurance should be about $50

Please forgive me if this is amateurish. I would love to get to know how to analyze whether or not this is a good deal.

Thank you all in advance,

Mark Anthon