Analyze Low Income Duplex in Winter Garden FL

[Michelle Elsaid]

I am looking at this 14818 Astrolyn Street, Winter Garden, FL duplex. Currently Rented for $650/ea side. $1300 Revenue. Listed for $99K. Beats 1% rule (good for florida)

Now, value of the house aside (I think it is worth much less), this looks profitable even with a low down payment. It is in a high income town, not so great neighborhood but low crime. Why has this been sitting on the market? Thoughts?

Please see quick math here for a $10K down payment ( 5% IR, 1% PMI, 900/annual taxes, $0 HOA)

Mortgage/Tax/PMI/Insurance: $690/month

Capex (20% of payment): $150

Vacancy (10% of payment): $75

Management: $130

With $1300 in rental income this generates at least $255 a month - better if I increase my downpayment.

Here is zillow link:

http://www.zillow.com/homedetails/14818-Astrolyn-St-Winter-Garden-FL-34787/82077144_zpid/

I'm interested in these low income properties so i'm curious what you think of this deal. Thank you!