Ok, still don’t have the full story here. There are a lot of other expenses to still take into account here, namely taxes and any deferred maintenance.
Off of your numbers so far, this isn’t a terrible rental, it will probably cash flow a bit if you manage it yourself and handle maintenance and repairs. It would not be one I would look at, though, as a more professional landlord.
The biggest question you have to ask yourself is, do you want to be a landlord? It’s not passive work, there will be some stress and hands on work. And living that close to a tenant, some people hate it, some people like it. Think about that as well.
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