Cap rate and COC in CottonWood Heights, Utah

[Daniel Kokodoko]

Hi all, just starting out and looking to buy a duplex in the Cottonwood Heights area near Salt Lake City. Could anyone tell me what the CURRENT cap rate should be in that location? More general question is HOW do I accurately find out what the cap rate for an area/property should be? Thanks all the members for great postings. I have learned a lot the last few months just passively reading others posting. Thank you all for sharing. 

[Scott Bowles]

I see property in good areas of SLC valued where market rents are about 0.5% of property price. I.E. 2000K/mth in rent= valuation at 400K. You can kind of extrapolate a cap rate based on this and it aint great. 3.5-6% would be my estimate based on how agreesively you model expenses.