Do Investors Buy/Sell SFR using cap rates or comps?

[Bradley Raynor]

Hi all,

I was curious on everybody's perspective whether buying or selling single family rentals use a Cap Rate valuation, or a more traditional $/sqft with comps.  On on hand it seems $/sqft makes sense, but if it's strictly a rental and has a long track record, I can see Cap Rate making sense too.  Thank you in advance for all input on this.

Brad