Is my website profitable?

Hi BlackHatWorld! First of all, I've been lurking this forum for quite a while and I have to thank you all for your contributions! Such a wealth of knowledge here!

Anyway, about a week ago I blindly purchased the domain iphone5srumours because I heard a friend discussing possible upcoming features of the iPhone 5S. So only after I bought the domain I realized it has about 1,000 searches per month (which is a bit high, but still good I think?).

So before I continue with the site I just wanted to get your opinion on if I should just drop it and focus on my Clickbank and Fiverr ventures or if it's worth the investment?

So far I have Adsense, and an affiliate ad to make money from. I still need a lot of SEO work (only a week old) and a lot more unique content which I'm working on. I'll also get a new logo. Ideally I would like to flip my site eventually in about 3 months.

So, what are your guys opinions on my site? Waste of time? Potential?

At the rate Apple bring out iPhones to keep the iMugs happy, before you can rank the site, the iPhone 5 will be no more.

That domain will become more extinct than a dodo's daddy after the next iphone update. You woul have to produce mass amounts of content to get a high ranking that would be worth flipping.

Something like smartphonerumours.com/iphone5s-remours

would have been a better approach long term.

If your serious, go back and buy another domain, and pick a bit more carefully something that can last, target a keyword, and still be niche and broad at the same time.

Newsmartphonereleases
smartphonedepot
gadgetsNphones

There are loads of possibilities, but look for something that you can build content on, the odds of you flipping your first site are low, so use it to learn first.

Being serious, you would be better buying iphone6rumours, and work on it, you should easily be ranking it once they bring out the iphone6. I do similar things to this but in gambling niche ranking keywords for next year.

If people really care about iPhone rumors, they probably already have a source.
If they don't, it will be hard to outrank places like MacRumors. Especially if you spell it Rumours...
It's not worth the hassle. Once the 5s is out, the website will be obsolete.
Put your time into something else.

Buying a domain for each little 1k niche is no longer worth it IMO, especially after the EMD update Google did. If you have a niche that is 1k ... group them together and make an authority site with similar niches.

Especially one that has iphone in it (difficulties selling it as it as it has copyright term in it), and as mentioned above the i6, 7, 8 will come out and your site will lose value, and the terms lose search volume.