Purchase price: $167,000 3 bed 2 bath 1000 sq feet

Have a 2 bed 1 bath fixer upper. 40,000 will buy, less than 15,000 to rehab. 2 bed 1 bath in my area rent for $650 easily.

You tell yourself this every day you wake and every morning you go to bed.

.  ;-)Move to my town (SW Missouri, pop. 160,000) and two full time Wal-Mart entry-level folks making $11/hour can spend about 25% of their monthly income to purchase a 3-bed, 2-bath, 2-car garage house built within the last 10 years in a nice neighborhood.If you don't believe me:  zillow.com/homedetails/1660-N-Marlan-Ave-Springfield-MO-65803/126248755_zpid/30 year mortgage of $129,000, 0% down, 5.5% APR. 

The best case scenario for comps is that the other properties should be very similar in style (capes comp well with colonials, but not ranches) living area and lot size and identical in garage spaces and the number of beds and baths. 

The house is a 3 bed 1 bath tri-level just under 1,200 sqft with an over sized garage (2 cars wide with an extra 15 ft at the back for bench and tools.

No floors kitchen etc. 4 bed 2 bath. 2000 sq ft. 

Especially if you can get near North Pole - with all the influx with the F-35 bed-down!

How many beds/baths?

Details:Property is a Duplex in Wisconsin, each unit is a 2 bed 1 bathAsking price $48K, would be paying cashComparable rents in the area in similar duplexes via rentometer and craigslist: $700-800/monthCosts considered:Rehab @ $15k (probably way off, I'm still learning) - some new flooring, cabinets and doors as far as I can tell currently.Property tax @ $900/yearInsurance estimated @ $1200 for year10 percent vacancy rate10 percent property manager fees10 percent of rent saved for maintenance5 percent of rent saved for capital expenditures3% of price for purchase related costs (inspection/title fees/transfer taxes etc)Calculations:Cap rate (purchase price): 18.9%Cap rate (market value): 13.8%Cash on Cash Return: 14.4%Cash flow @ $749 ($375/unit) or $562 after income taxesROE: 13.4%Rent to value: 2.9%Please punch holes in this for me so I can continue to learn, I appreciate the knowledge here.