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Updated almost 12 years ago,
What's a typical cap rate in your area
I have invested in a number of larger commercial projects as a minority lp. My wife and I are considering rehabbing / renting homes in our area in the Midwest. I am curious - what is a typical cap rate in your area? Not necessarily the best deal you have seen - curious about your run of the mill deal. The purchase price in our market for a 3 bd / 2 bath is anywhere from 300-400k depending on condition.
For ease of comparison assume self managed. Utilities paid by tenant.