At What Cap Rate % Does A Property Become A "No Brainer"?

[Keith Roberts]

Greetings Everyone.

Curious to get some seasoned opinions on at what Cap Rate % makes you pull the trigger on a deal. I've had some people tell me anything over 8% is a good deal (to me a good deal means positive monthly cash flow). At the same time I can pull up 5-7 listings in my area which, if the provided NOI expenses are accurate, have a Cap Rate of over 15% yet have over 100 days on the market.

So what do you guys and gals think?