2021 Minimum CAP Rate for multi-family rental - Philadelphia, PA

[Andrew Luhrmann]

So I've read some of the previous blogs about this, but wanted to get peoples current perspective. I live in Philadelphia and been looking at multi family homes (to rent as a landlord) now for a couple years, I've probably seen over 30 properties and made a couple offers, but have not had luck closing a deal yet. My initial min CAP rate I was willing to accept was 6.5, but I'm feeling like this is going to be unrealistic in this market and honestly, if I find a good property that's well taken care of in a good location I'm thinking 5.0 isn't horrible and still gets me in the game of someone else paying off my mortgage. Curious for people's feedback?