Help with SFR Cap Rate for Deltona FL

[Vlad Suris]

Hey BP Community,

My partner and I are looking to purchase an SFR in Deltona, FL (interested in the southwestern parts of Deltona Lakes) and are having a difficult time figuring out the average Cap Rate for the area. My analysis provides an average Cap Rate of 8.84% for the entire Deltona, FL area. The analysis that I ran included 3 Bed/2 Bath SFR with square footage ranging from 1,100-1,300 and sold prices between $100-120K. It would be greatly appreciated if someone can help us out in this regard so that we do not over/undervalue properties when we run our analysis.

Thank You,

Vlad & Stephen