Determining if your Cap Rate is good or bad

[Timothy Christian Jr]

I determined the cap rate for this duplex in Greenwood, Indiana, earlier today, and it was a 7 cap in a B class neighborhood. How can I calculate my market cap rate (CR) with this data? How can I determine if a deal is excellent after I know my markets' (CR) and my rental property's (CR), based on whether my (CR) is lower or greater than the typical markets?