Need Advice: Duplex in College Town

[Allison Herge]

Hi! I'm new to the PB community and just getting my feet wet in investment real estate. I'm looking at a duplex in a large college town and want to get some advice before moving forward with an offer.

The Details:

-Duplex, both 4 bed/4 bath

-Listed for $250,000

-Currently 100% occupied, $300/room

-Cash flowing $2,400/month

-1 mile from campus

-6/10 condition, 2/10 aesthetics 

I think that with new flooring, paint, and updating the kitchens and bathrooms, I could increase the rent to $550-600/room. 

My Questions:

-Given these details, does this sound like a good investment? 

-Considering that it is in a college town and will likely rent to students, how do you take into account vacancies for the summer months?

-What costs are expected with turning over a property like this each school year?

Thank you for you input! I'm hoping this project can help my family move closer to begin financially free!

-Allison