Help me analyze this Duplex in Nashville
Hello everyone, I am looking for some input about this duplex at Nashville that I am looking into. Its a 2 bed, 1 full 1 half bath (2 units), close to airport and interstate, but not in the best part of town. Below are the numbers
Listing price - $190000
Year Built - 1981
Downpayment - 20 % ($38000)
Monthly Mortgate & Interest - $816.00
Annual Property Taxes - $1500
Property Insurance Annual - $1200
Property Management - $150
Monthly Rent - $1715 ($915 for one unit and $800 for the second unit)
Cash flow with out any vacancy - $524.00
Rent to Price Ratio - 0.90%
I would like to have a rent to price ratio of at least 1.0, but those properties are hard to come by in these days. I like to hold the property for 10+ years and cash flow is more important to me than appreciation. Is this one worth investing? Would love to hear your thoughts. Thanks.