Duplex and the 2% rule

[Steven Barnhill]

I have found a duplex that seems to fit the 2% (rent * 50) rule but the actual profit doesn't seem worth the effort.

Asking Price $35K
Total Rent: $750/month

Expenses per year
Taxes: $923
Insurance: $1200 (estimated based on my current rental property insurance)
Debt Service: $4656 (based on a 10 year loan at 6%)

With just the above expenses taken into account, I'm only left with $2221 and that doesn't even include any maintenance for the property. Am I doing something incorrectly?