Cap Rate - Northeast Philly

[Neal A.]

I'm an investor in the northeast Philadelphia area who has acquired and managed two properties for rent over the past year and a half and am looking to acquire more. I've been actively searching the area for two and a half months and fear I am being too aggressive with my return expectations.

I'm curious as to what other investors are seeing for their cap rates recently.

Being a lifelong local, I know Philly value can change on a street by street basis. The seedier places have typically been the places I target for best returns.