Is this property worth investing for a wholesale??

[Toni Bird]

Hi everyone, thank you for taking the time to read my post because I am a beginning wholesaler with serious question!! I see a good potential wholesale, but am wondering if investors and buyers would also think so.... I know 'it's all about the numbers'

This property doesn't need any repairs, it is a single family home, located in South Kingstown RI, the owner rents it out and has good paying tenants there for $1,600/month.

Details:

ARV: $222,943

I negotiated to buy for: $ 175,000

Sold comps: $220-$250k

I am estimating closing costs to be about $1,200, looking for a fee of about $5,000- leaving $41,243 on the table for profit. 

My question is, would this be worth it for an investor or cash buyer? The big picture here is that there are already tenants living there, $1,600/month coming in on time, and the market in the area is on the rise 2.2% by next year based on my research (based my discussion on a couple of realtors working in that area, zip code 02879). I see this as a great return on value, as the profit for the buyer will keeping increasing with every month of rent collected.

The owner wants to get under contract, but i want to make sure this is a deal I can sell. 

What do you think ?? Advice please !! Much appreciated, thank you!!