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We have 3 duplexes side-by-side in Des Moines, Iowa, with monthly gross cash rents slightly more than $5,000 per month. We pay water (about $500 / month) and taxes (about $700 per month) – tenants pay all other items. Most units have been updated with new HVAC. All units have their rental certificates.
Looking for $450,000 for all three, which is about a 10 Cap valuation. My guess is that is a much better return than you can get locally.
We are fine with you utilizing a local realtor to protect yourself, but any commission will be paid by buyer. Seller is a real estate attorney, able to handle escrow services should you want, or you may utilize local company of your choice. Seller has clients who will be willing to provide management services for the properties, should you require them.
Initial replies via e-mail to help weed out the scams.