Understanding Pro Forma Cap Rate - Using Rental Property Calc.

[Jeffrey Gonano]

I'm having a hard time understanding the Pro Forma Cap Rate in the Rental Property Calculator.  I have a property that I'm looking at and the pro forma cap rate comes out to about 8.26% with my after repair value at $145,000.00.  I was curious what would happen to my pro forma cap rate if i changed the after repair value to $160,000.00 and the pro forma cap rate did the opposite of what i thought it would and went down to 7.48%.  I always thought a higher cap rate was better.  Does this not apply to the pro forma cap rate?

Thanks in advance