SFH Purchase in New Castle IN?

[Roman S.]

Hi Gurus, I am about to acquire a SFH 3/1.5 1250 sq in New Castle IN from a turnkey. Price is 130k, and it was just leased for a year at $1175. Schools around 5-8 and not too far from the freeway. I will do 25% down with 30 year fixed. I know this area likely won't appreciate much, but the place has a new roof, furnace, HVAC and water heater as well as nicely updated kitchen and bathrooms and almost all new windows. I will probably cashflow around $200 a month or maybe even more considering I have most of big ticket items are new. Is this a worthwhile investment?

[Keivan Darius]

@Roman S. I never thought I would consider New Castle IN, but I started to like it. Also looks like it's growing. I actually have a 30 Units Complex under contract at the moment in new castle. People there are super nice and like you said no crime what so ever.  Here is my market research. However I think you might be paying too much for a house that cash-flows $200-$300.  Right next to the 30 units there are SNFs & duplexes. If you want I can talk with the owners in the area when I go back for closing. I meet some of the locals and they are retiring, you might be able to buy them for $70K per door. Also since you already have investment there you can tell me more about the area. All the best. let me know if I can be of any help