Where's the cap rate map? Is there one?If not we need one of these!! How do you know what the cap rate is in an area your looking to buy?? Please share

[Jared K.]

So, I get asked quite frequently "What's the cap rates like in this area?" when I am selling a property for a rental, usually out of state. The only answer I can give is whatever an agent or broker tells me it is for the area, which should be consistent it varies. 

I am looking to buy a piece of property where I live. I have already owned rentals in my town for 11yrs but most brokers/agents have no Idea what the cap rates actually are in this area so what should I do?

1) Rather than rely solely on a guestimated opinion, which is what I feel I get, how can I best determine an areas cap rate myself whether its an in town deal or out of town deal?

2) What is your system to determine an area's cap rates? What resources do you use and why?

Thanks in advance :)

[Jared K.]

Maybe @Brandon Turner will help me be the creator of such map if there isn't one?...lol