Anybody know what the cap rates are in Indianapolis?

[Todd Moriarty]

Looking for a reliable cap rate for investment purposes in Indianapolis for apartment buildings.  Anybody familiar with this market?

[Joseph Gozlan]

@Todd Moriarty the most accurate answer is 2%-17%

In reality, the cap rate is not a set number for an entire state or metroplex. Even an entire city might not share a cap rate. 

You also didn't specify if you are looking at A/B/C/D class apartments. HUGE difference between the cap rate of an A class and a D class even if they are less than a mile away from each other...

Cap rates can even be different from on neighborhood to another.

In DFW alone I've seen cap rates as low as 3% (actual) and as high as 9% (actual).

You need to find local owners, major players in the multifamily brokerages or talk to a few of the major property management companies in the area and they can tell you what's the cap rates they see in your desired SPECIFIC area.