Question about possible first deal on duplex

[Will Byrne]

Hi,

I'm looking to buy my first duplex and I would greatly appreciate some feedback on the numbers below.  The duplex is listed at $200,000 but I wouldn't accept anything above $175,000.  The numbers below would be if I got it at $175k.

Income:

• Total rent = $1,700/mo
• First story 2 bed/1 bath = $650/mo
• Second story 2 bed/1 bath = $650/mo
• Garage apartment = $400/mo

Expenses with 4.375% mortgage:

• 25% down payment = $43,750
• Principal & interest = $655/mo
• Property taxes = $175/mo
• Home insurance = $82

Here's a screenshot from some basic calculations.

I know that's a lot of cash to put down but I'm a conservative person and I'd like to avoid little or no down payment situations.   I know it doesn't exactly meet the 1% rule or get the $100/door rule.  Any thoughts or major concerns?  Do the numbers look correct?

Thanks in advance for your help!