What do you think of this deal!

[Account Closed]

So I just purchased a deal and closed this week . The new property is a duplex . I have not targeted duplexes because I have focusing on targeting larger units however, this deal was put in front of me and it seemed to good to be true ! What do you think? Here are the details . Duplex Purchase price : $32,0000 Annual taxes: $2200 I was able to use leverage on this property so... $12200k down $325 a month mortgage with escrowed taxes and insurance . House is actually In excellent condition with new windows roof and siding . Some of the appliances are older but I'm not overall concerned about problems in the near future . We do pay water in my area usually it's about 200 per unit per year so 33$ per month The utilities are separate tenant pays . We have in-house management for our properties so total cost on that is around $100.00 a month and no other property management fees . This does not include supplies obviously . Current rental income $1300 per month I know what I have it calculated cash flowing but I wanted to see what you guys come up with ! I am newer to the forum and I am thinking this cash flows pretty well for a leveraged duplex . Let me know what you all think or if you have any other questions about the numbers !

[Joe Villeneuve]

Even with the cost of insurance subtracted, you're still looking at about $6k/year.  That means you are made whole with your cash in 2 years.  I prefer one year, but there is so little in actual dollars out of pocket from the beginning,...does it have a "sister"?