want your thoughts on analyzing a deal

[Jonathan Justiniano]

Hi guys

So i want to run a property im looking at making an offer on. Its my first investment property and want to make sure it is a good one. It is about 10 mins away from where i live and would be self managed. 

Its a duplex one bed one bath on each side both renting under market value but rents can easily be raised to at least $1,100 or higher. Its in a B neighborhood  and is a C property (Just for a backdrop)

Asking price- $239,900

Taxes- $3,085/year

Insurance estimate- $840/year 

Income-$2,200/month 

Down payment and rehab -$30,000 all form an equity line btw

interest rate - 6.25% (7 year ARM)

Utilities payed by tenet 

Will be self managed 

At full ask im looking at a 9.4% Cash on cash return. Is this a good first deal?