Multi-family with No Comps but Cash Flows

[Shaquetta Chittams]

I'm looking at a duplex with an asking price of $159,900. I did my numbers using the HOLD worksheet and it appears to cash flow about $600 a month. HOWEVER, the only comps are for significantly less but they aren't renovated. It was purchased for $90,000 and renovated. It has a new roof, 2 new hot water heaters, and one new furnace. The there aren't any comps in the area for renovated properties. My numbers say it will cash flow and I received a pro forma but I'm not sure if I can trust it. I even looked for 4/2 single family homes and I found the same thing. Most of the properties sold in 2007. I offered 155,000 with 2,000 toward closing. The seller countered full asking, 2,000 toward closing and 2,000 EMD. What should I be looking for to know if this is a good deal? I've attached the ProForma from the seller and my numbers using the HOLD worksheet.