Property Analysis Help South Side Chicago

[Vishal Didwania]

Hi all, I recently received a deal on a  property on the south side of Chicago in Woodlawn neighborhood that is a duplex and in good shape. 

2 flat with 3 bed/1bath and 2 bed/1bath with 2 bed unit vacant (states was hoping to get buyer that would move in and rent other flat) and 3/1 unit rented for $900 currently

Asking price: $150k

Downpayment: $37.5k (25%)

P&I (4%): $528/mo

Property tax: $271/mo

Insurance: $117/mo

PITI: $912/mo

Expense: Snow removal/lawn $50, Yard cleanup $50

Can likely rent out second unit for ~$850/mo but currently vacant - ? should I use this to calculate purchase price?

Income = $900 + $850 = $1750

Expense = $912 + $50 + $50 + 5% vacancy ($87.50) + 5% CapEx ($87.50) - will manage myself = $1187

Closing cost = ? ~7k

Balance = $563

Cap Rate = 4.5%

Cash on Cash = 15%

No repair cost needed likely. Seems like an alright deal although this is assuming the rental of the 2nd unit. What do you guys think?

[Peter Halliday]

Duplex pricing aren't based on NOI, but compatible sales of duplexes in the area.