Duplex Needs Analyzing

[Account Closed]

I am looking at duplex that grosses $1,590 per month and the sales price is $103,200. I am looking at approximately $9,540 in annualized expenses using the 50% rule. My monthly mortgage payment would be assuming a 20 year fixed rate loan at 7% with a 20% down payment roughly $640/mo. That brings me to a net positive cash flow for the year of $1,860. Is this a good deal for my first property? If not...this would be one heck of a tax shelter. :mrgreen:

Thanks for the help.