Cap Rate Lancaster County PA?

[Matt F.]

Anyone have any thoughts on what a good cap rate is for residential rental props in Lancaster County PA ? 

thanks 

[Matt F.]

it can be another tool to use to help evaluate potential deal and better determine a fair offer price. For example, i've read some articles that suggest taking the NOI and divide by typical cap rate in your area to help determine the properties value. some people use other methods and i am sure there are shortcomings of this approach as well but it would be interesting to see what kind of thoughts others have on using CAP rate to determine prop value.