fair rake for a home game?

a guy on campus is offering to host poker at his frat house.
for 3-6 limit he'll rake 1 dollar from every pot, for 2-4 limit, 50 cents.
he also said he'd buy pizza.
now assuming there is a somewhat competent dealer and things are run well/honestly/safely/fairly, is that a good deal?
what kinds of questions should i ask him about the set up?