Please Advise, Is This a Good or Bad Deal?

[William Coet]

 These numbers are bigger than I'm used to for a single family home, and so I'm looking for some advice/help on this potential purchase.  I would appreciate any suggestions for evaluating the strength of the market to determine the risk if there were a vacancy.  As it sits the realtor is telling me that the current tenants want to renew the lease this April.

-The house is in a very good neighborhood in a growing city.  The house is in very good condition and there is minimal deferred maintenance. It is a long-term rental and rent is 7,500/month (90k/year).  I am aware of other rents in the area that are $8,000-$10,000/month (full disclosure; I need to gain more information on the rental market).  The house has a pool and is located in a climate where freezing is not a concern.

-Sale price will be around 1,000,000.

-Property Tax will be 16,000-17,000.

-Property Insurance To Be Determined.

Thanks!