Multi Duplex - Cap Rate Exit

[Jeremy Kuchenbecker]

I'm looking at a single offering of 5 duplex, 10 total units. There is big value add potential and am expecting to implement my business plan over the first 12 months. The property is in a B-/B market and are single story with garages. I've got a good feel for how garden or mid/high rise and C/B/A class are trading in this market but not this style. 

My question is: When looking at a the prospects of a refinance in 12-18 months, how would this type of offering be valued/underwritten?

Appreciate the feedback!