Good deal at less that 2% rule?

[Zachary Ulven]

Hello Everyone!

I have a question on a property I am seriously considering. 

Purchase price would come out to $180,000 ARV would be $195,000 with $10,000 Reno.

Its a 2 unit property and would bring in $1,900.

Monthly expenses come out to $1,385.63 with a cash flow of $514.37. 

Financial Info

0.93%2% RULE

$46,000.00TOTAL INITIAL EQUITY

7.89GROSS RENT MULTIPLIER

1.81 / 1.70DEBT COVERAGE RATIO

I believe this is a good deal but lost on the rules...