Analyzing a deal: Just starting out in the REI world

[Mike Blais]

Hi Everyone, 

My realtor sent me over an opportunity in Albany, NY. I'm analyzing some properties currently that could be my first deal. My initial feeling is this is just around a 1% deal and its quite expensive for the amount of cash flow that comes with it. I appreciate anyone else's thoughts. 

Style: 2 Family 

Price: $235,000

Taxes: $7,100

Estimated monthly rent: $1,200 each apartment. ($2,400 Total)

I would owner occupy most likely and my feeling is that I would want to put some work into the kitchen for me to want to live there. 

Thank you !

Mike 

p.s. if there is anything else I should put in here when asking for help, please let me know so I can improve my posts for the future