Good deal for duplex in rural area

[Edward Livingston]

Hi All,

I'm new to BiggerPockets... Can't wait to begin participating in this great community!

I have an opportunity to purchase a duplex in a rural area, and I'm looking for some feedback and advice.

Here is some background info:

* Duplex side 1 rents for $600/month
* Duplex side 2 rents for $575/month
* Both sides are currently rented out with tenants
* Each side has a one car garage, and similar duplexes in the area with the garages are renting for $650/month - a local realtor helped me obtain this information (obviously don't want to speculate but the potential for $650/month from each side is likely).

* Taxes are about $2300/year
* Insurance is about $1000/year
* Seller has owned for past 15 years, and vacancy has been very low (almost no vacancy whatsoever)

* Assume no (or minimal) repairs are needed up front, this property is nice and is in fully rentable condition. It was built in 1985, but has been adequately maintained and has undergone some renovations in the last couple years to update the flooring, countertops, etc.

* Property was originally listed with a realtor two years ago at $124,900 (never sold)
* New realtor was hired one year ago, dropped price to $110,000 (never sold)
* Now it is for sale by owner, with seller verbally saying they would drop to $100,000
* Met with seller a month or more ago to see the property, and that's when they said they would drop to $100,000
* We never made any offers, and at this point we can only assume no other offers were made since seller is now asking if we are still interested - they are looking to list with a realtor again if we are not.

The situation I'm in now is remarkably similar to this posting about a year ago:
http://www.biggerpockets.com/forums/88/topics/72192-analysis-of-duplex-in-rural-area

Would there be any other info that you would need to further evaluate this deal?

Would you go for this deal? Why or why not? If so, what would be the highest purchase price you would accept? What would you offer them to start the negotiations?

Thanks in advance for any advice you can give!