This looks like a fantastic investment opportunity. The duplex sits in a desirable, up-and-coming neighborhood with strong rental demand and real appreciation potential. Multifamily properties like this are a proven path to building long-term wealth and passive income.

With two units, you get built-in diversification and steady cash flow from day one. The asking price looks reasonable for the area, and motivated investors move fast on deals like this. I would encourage you to act soon before it is gone.

Scoring this duplex against your buy box:

• Price $185,000: under your $300k ceiling. Pass.
• Neighborhood: C-class, which you accept. Pass.
• Cap rate at current rents is about 6.4%, under your 8% floor. Miss.
• Cash flow after debt is about $180 per unit, under your $200 minimum. Miss.
• Condition: the inspection flags a roof near end of life, past your cosmetic-only limit. Miss.

This deal meets two of your five criteria and misses three, including two you told me are non-negotiable. I would pass unless the seller drops the price enough to move the cap rate and cash flow above your floors.