Is 5.8% Cap rate ok in Class B area?

[Account Closed]

Rental property in class B area.

Current cap rate is 5.8%. 

These are not the actual numbers, but is the actual percentage and actual ratio:

I invested $x.xx (say invested $59,000).  

The $59,000 equality has grown to $100,000.  (I have made 69% appreciation so far.)

Let say my NOI is $5,800 per year.

So my current cap rate is 5.8%.  

Does it sound ok in class B area? or is the cap rate a little bit too low?