Is this a good deal? (New york)

[Anthony Favoroso]

My partner and I are new to the real estate game and just put an offer in on a duplex and wanted to know what some of you more experienced investors thought or if we were missing anything.

This will be a student rental.

99,000$ agreed upon price

(comps in area in the 120-140k range)

2,000$ in repairs

estimated closing costs 5,000$

25% down 24,750$

interest rate 30 year fixed at 3.5%

taxes 5,417$

insurance 700$ yearly

Property management 20% (in our area they charge 10% but we put another 10% to factor in repair costs, vacancys or an "emergency fund"

 Utilities 400$/month

4 units at 550$/month or 3,300$ per semester

2,200 total gross from rent/month

total monthly expenses(mortgage,insurance,& utilities) 1,776$ 

net operating income 5,078

 cash flow 423.20$/month

ROI = 16%

Thoughts? are we missing anything? Thanks!