Example of a low CAP RATE Property in Worcester

Case study on MLS.
84 and 86 May street. 6 Units

These properties are in very good condition. Basically all updated in 2017. Plenty of parking at least 11 spaces in winter and 15 in summer location is close to Big Y, CVS, Bars and restaurants
1.3 miles to Worcester State3.1 miles to Assumption College.2 miles to Clark1.3 miles to WPI
property currently has 3 floors of Worcester state students and 3 floors of Assumption students
it should be very easy to continue to rent these, and raise rents. I think you can go up on rents about $600 a year which is only $30 a month per kid
Rents, 4BR 2 BA $2,300, 2,200, 2,200. 3 BR 1 BA, $1,650, $1,650 2br 1 ba $1300total monthly rent $11,200, Annual $13,440
stated expenses $11,597, taxes, $13,437, lets call management $75 per door per month at $5400/year total: $30,434
NOI $134,400 - 30,434 = $103,966
at a 6 CAP this is worth $1,732,767at a 7 CAP this is worth $1,485,229
For the condition of the property, the ease of getting these rents, and the location.
This is probably worth $1.5mm or $750k per building