SFR with no basement in the Midwest......should I buy it?

[Tom V.]

I'm looking at a SFR rental property that has no basement. Concrete block foundation with a crawlspace. In this area (NW Iowa) 99% of homes have some sort of basement, whether finished or not. A slab or crawlspace foundation is rare.

This is a B class property in a A class neighborhood. It was built in 1930 and is valued around $100K. Most of the surrounding homes were built around it in the 1990's and are valued $200k+. Will likely rent for $1000/mo. It has been well maintained and was remodeled 2 years ago with medium grade finishings. 1068 sq/ft with a double carport.

This looks like a good property, but the thing is, severe thunderstorms and tornadoes are a real thing around here. Home owners like to have basements, I know I do.

I'm wondering if the lack of a basement could be a problem? Pros, cons?

[Ryan Weirick]

I don't know if I would worry about that aspect of not having a basement. Think of the thousands of people in apartment buildings that don't have a basement to go to.  More of a concern for me would be the lack of the added storage an unfinished basement gives to a tenant.