Market Cap Rate- Arlington, Texas

[Rhondalette W.]

How do I find the market cap rate for c-class, small (5-20 units) multifamily in Arlington, Texas? Trying to analyze an off market deal. Saw a cap rate of 12.0% online @ caprateindex.com but 12% seems high. Can anyone help me find or verify the cap rate?

[John Sayers]

As far as the market rate goes, I can only suggest a trusted CRE broker or lender/Ln broker that operates in the area as they will see a volume of current/recent comparable deals and can give a general range for a particular property type/class, in the particular area. IF you know any active MF buyers in the market, they should  also have an idea of the current range.

Some regional data is available online, but specific sub-markets may require a subscription to a data service.