Help analyzing a duplex (newbie investor here!)

[Holly G.]

Hello BP members! 

My husband and I are looking for our 1st buy and hold investment! There is an opportunity in a town about an hour away from us.  I'd be interested in your thoughts about this: 

-Listing price $125k (comps show past solds are between $100k - $115k) 

-2 units: each unit 3 bed/3 bath ($800 + $850: total rent is $1650/month) Both tenants want to stay

-Taxes are between $1750-$1800/year

-Home Insurance: getting quotes between $1100/yr - $2000/yr

-Good school area: Great schools show elementary/middle/high are between 7-9

-in HOA: HOA fees are $40/month - go towards a community pool

- property built in 2010

- property management at 10% (I debated managing myself but am 1 hour away) 

-tenants pay all utilities

-was part of a huge development that didn't get all developed, there are lots of vacant lots between properties

My goal is to get at least $500/month in net cash flow after all expenses are paid at and least 15% cash on cash return. 

Offering $125k and using $1650 current rents, final monthly cash flow is $455/month and 16.01% cash on cash return. 

I think if the area gets fully developed, I think rents will go down to probably $1400 total each month which would leave me with $300 final monthly cash flow and 10.57% cash on cash return. I would say this area is blue collar. What do you think?