Duplex in Indianapolis- Good deal?

[Rollan Dizon]

BP Fam!

I am considering a Duplex in Indianapolis and wanted to get your thoughts.  Here are the numbers:

Purchase Price 89K

2x 3/1.5 1220 Square feet each

Fully Rented: Gross Rents 1300, 650 each

Fully rehabbed 

Market Value, 97k (But I am suspect of this, can't find anything in research to justify this price)

It is in the 46205 zip code "Historic Irvington".

Is this a good neighborhood? (I checked neighborhood scout and see high vacancy rates). Numbers are "ok". I am considering putting in an offer lower than purchase price.

Thank you for the feedback!

[Ryan Mullin]

If it looks the way it does in the leasing photos on zillow I'd say its a great investment at 89k. Its really hard to put a value on doubles. But SFR (with similar total sq ft.) in that area sell well over double what you are paying. So... there you have it.