Duplex.  15 years old.  2BR/1.5BA units.  900 sq ft each.  Area = C class.

Rents: $500/unit for $1,000/month gross.
TOTAL INCOME: $1,000/mo

Expenses:
Taxes = $55/mo
Insurance = $75/mo
Prop Mgmt = $100/mo
Cap-Ex = $100/mo
Ongoing Maint = $100/mo
Vacancy Loss at 8% = $80/mo
TOTAL EXPENSES: $410/mo

(I will likely finance: 20% down, 5.25% max interest rate for 30 yrs, P&I = $250/mo)

Closing Costs: $5,000
Estimated Repairs: $5,000 (going to visit property shortly, but like to start with $5k).

What's your max offer?  What do you think of this deal?  Thanks in advance.