Opinions on this property I'm looking at tomorrow

[Kyle Barry]

BP,

I currently have 4 duplexes, probably C properties.  This was my first deal and I probably over-payed and took on properties that needed more work than I could have anticipated but I made sure the rents/sale price ration was high to cover it so It hasn't wiped me out... Also, I have learned a lot from this experience.  So that is some background of where I am at..

I am looking to do my next deal soon and am looking at a property tomorrow.  I'm not necessarily asking anyone if I should go for it but wanted to know if you saw any red flag in the numbers?  These would probably be B properties and are very well maintained, and simple brick structures.  There are two lots that each have 2 up an down duplexes on them.  Here are the numbers for 1 of the lots. They are basically identical.

$2300 rent per month (4 units from 2 duplexes in same deed)

$161,000 asking price

All utilities payed by tenants, including water:)

Taxes are quite high at $6500.  However, the assessed price is about $40-50k higher than what i expect to purchase this for so i think I can get the taxes down to around $5k to $5.5k.  I did this on one of my other properties already

With 5% financing at 20 years, $250 / month for maintenance and $150 for insurance i believe I can CF $500-600 / month. I can easily finance the DP with a HELOC I have at 3% and can get a 10/20 loan from a small local bank at around 5%.

Does anyone see any red flags in these numbers? After looking at hundreds of properties on the MLS over the last 2 years, this one definitely is at the higher end of cashflow potential. I would love to hear your opinions. Thanks!

Kyle