comps question

i am looking at buying a brick house in an middle income area area and have gathered the following information:

This home dollars per sq ft: $69
Comps avg dollars per sq ft: $66
Sold properties since May 2008 are:
$69,500, $73,000 , $65,000 and $60,000

There has been a 30-day change: $500 down in the area for houses.

The average pricing for houses in the area like this one is $68,000 and the owner owes $59,000 more or less.

the pi is $648 per month. The taxes are $598 a year and the insurance is $619 a year.

Other homes in the area like this rent for $675 a month.

I really need any input I can get as to whether this would be a good deal or not.

thank you for your help.
:shocked

It really depends on what you want to do with the property. As far as the details you have given if you get the house for $59K it will be a good lease option. I like to get lease options with 10-20% equity especially in the market today. I also ad 10-15% to the rents for a lease option tenant. Have Fun!!