Working on first deal

Am working on a deal and wanted to get some advice.
I found a duplex asking price is $429k the owner needs cash because he
is sick and needs to move. He is willing to carry finance for $229k @ 6% but needs
$200k in cash. I have good credit and good job for over 14 years.
He told me that the property has been a family house for the past 17 yr. but was
converted back to a duplex. He also said that the property needs very little work and has
been remolded (kitchen new appliance). It's a 2/1 upstairs and studio downstairs.
I asked him what he thinks they would rent for and he said the 2/1 $1100 and the
studio $700. The property is a a nice part of town and there are homes mixed with duplex and a few apartments. I grew up in the part of town as a child an know it very well. I drove around
and found a studio with 3/4 loft up the street for rent for $1350. Also I found an apartment 2/1 renting for $1450. So I think he may be off on the rental price. My question is at what price should the property sell at if I can rent the studio for $1000 and the 2/1 for $1500. I have posted about this on other parts of the forums. Am new to the site and to investing, so any advice would be great. Thanks in advance.