fully leased duplex in Dallas Metro
Thinking of purchasing duplex(es) in terrific Dallas area. Looking for appreciation, have long term outlook. These units are new with 1 year builder's warranty. $240K per duplex. Annual gross scheduled rent is $28,000. They are already rented. With 25% down, I can get a 30 yr loan at 5.375% with closing costs of $2,800 plus title fees =$1,007 /month PI. Annual taxes = $6800. Management fee is 6.5%. I know I have to take insurance, vacancies, etc. into consideration. Question is: Dallas area, great neighborhood with large homes, good schools, appreciation seems likely... I've done a bit of homework. Is there something I am missing? Should I be looking elsewhere? What factors should I look for in deciding the long term viability of renters at this price?