is this a good duplex deal?

[Devin Mann]

owner financing with little or no money down... 

both sides rent at 950 per side

price is 150k, 15 year mortgage at 6%

payments are 1265 monthly

buyer pays all closing costs which include transfer fees about $1200.00 plus
attorney fees approx $450.00 to $800.00.
Tax is $3600.00 per year.
Town water and sewer.
Sewer costs are $90.00 per unit per quarter.
Water is approx 100.00 quarter.

[Bill Jacobsen]

I like to make 3 percentage points above my cost of money.  If your interest rate is 6% I would want to make 9% as a cap rate.  If I apply a 50% expense rate I get a cap rate of 7.6%.  Just on that it would not meet my criteria.

You should try to estimate your expenses by item and then recalculate.  I would want a 9% cap rate.

Good luck.

Bill