Any Multi unit investors in Iowa? Need help!

[Dominick Dahmen]

Hello everyone. I am a wannabe investor in MN. I researched real estate a lot for a couple years than dropped off for the last year. Now I'm getting back into it. I found a 6- unit deal out of state, but the rents are 450 for a 2bd/ 1ba and only 500 for a 3bd/ 1ba. The kicker is the owner is paying for all utilities for the 2 and 1 bedroom units and they are only collecting 400 and 450 per unit. Is this normal?

Thank you!

[Nicholas Wallraff]

@Dominick Dahmen

As @tyler said it really depends on the area. If you are in/near a larger metropolitan area like Des Moines, Cedar Rapids, Quad Cities, etc. Then these rents seem quite low, but in a small town with little demand these prices may be more competitive. I own an older 3 unit with owner-paid utilities, and people do seem happy to pay more for that service.