10 unit multi family building with NOI of $30k year

[Hai Loc]

How much will you be willing to pay for a building in Buffalo/Southtowns with an NOI of $30k a year?

What are the cap rates these days? A 7.5% cap would make this building $400,000

[Hai Loc]

Quote from @Bjorn Ahlblad:

@Hai Loc I think the small MF market is way over priced and people are willing to pay  crazy prices. Those folks need to work on their underwriting skills. 

Not knowing any more about the property. 400 returning 30 is the most I'd be willing to pay. All the best!

 This is what I figure