South Florida Single Family Home Cap Rate Range?

[Andrew Massie]

I am looking to purchase a first home to live in but am approaching it with the intent of turning the property in to a rental property down the road.  I'm running the numbers on a number of properties and am finding most cap rates in the 4-5% range.   Does anyone have any input or feel on where the higher/lower end of that range is?  Specifically northern Palm Beach County, Palm Beach Gardens - Jupiter area.

Thanks in advance!

Andrew