28% cap rate

[Joe Boggin]

total investment for my first rental before i get a security deposit and first month rent is roughly 25k. im planning on 800 a month rent (already rented just need to close). if i can assume 600 NOI monthly (i dont have a mortgage) that puts me at around 28% cap rate. (600 x 12 = 7200/25k = .28)

im using 600 as my NOI based on insurance and maintenance...

i know some here on BP say cap rate is not extremely important unless you are into large commercial properties or comparing several units side by side. but im guessing this number should be arousing in some capacity....even if it my first rental?