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Opinions sought on my first duplex deal
Greetings Bigger Pockets family. I am a first-time investor, looking to purchase a duplex. I used the Bigger Pockets analysis tool to analyze a potential deal and I wanted to get the community's opinion before I made an offer.
The deal
Purchase price: $150,000
Monthly cash flow: $176.64
Monthly expenses: $1,523.36
Cash on cash ROI: 105.99%
Purchase cap rate: 7.06%
Down payment: $0
These calculations include 2% for vacancy and 2% for repairs. The property is appraised at $189,000, so I will be entering with equity. I will be house hacking this property as well. Any feedback would be so greatly appreciated.