Denver Rental Market

[Lee Oday]

Looking for feedback from the community in regards to buy and hold cap rates and/or cash on cash returns. I've seen recent transactions across the metro area where investors have purchased properties with cap rates around 5%-6% and COC around 6%-7%. I can't imagine these numbers being too impressive. I assume some are looking for an appreciation play. Question is, are these numbers satisfactory for this market? Or, are some buying thin deals because of the lack of good opportunities? Feedback appreciated, thanks.