Duplex under Contract

[Luke Jackson]

Hey guys,

Here are the details on my latest duplex. Previous owner spent $60k last year on windows, siding, roof, and HVAC. Very clean house. Each unit is 2 bed, 1 bath. Retail value is $170k in my market. 

Purchase Price: $160,000, $0 Down

Terms: Owner financed, 5% interest, 15 year amortization

Income

Rent: 2 x $850

Monthly Expenses:

Lawn Care: $100

Taxes: $100

Insurance: $85

Maintenance: $150

Morgage: $1265

Vacancy: $100

Total: $1800

The deal looses $100 per month before factoring property management costs. I self manage and do the maintenance on all of my units so the costs will probably be lower than stated above. 

Would you have purchased it?