Well I am going to give you precisely the opposite advice of these guys.

Chris Dawson has a zip code chart that I use.

If you look at the chart below, you will see all the first gate ways for Koreans in the 1980s.

Brandon recommended charting the cap ex for each specific property.  

See then if you can formulate a more precise plan for building longterm wealth.

As an example, this is a chart of SFR sales volume by month over the past 5 years in Austin:Here's the raw data for the above chart:Here is the monthly median SFR sales price over the past 5 years:Here's the raw data:

Now, I understand that many people don't use accurate numbers when asking a question on a public forum, but I feel that doing so will help the BP community answer my question more precisely. 

And here's why:Modesto Housing Market Has Seen Most of It's Appreciation Already -- As you'll see in the chart posted below, the median home value for the area is roughly what it was back in late 2004, with the peak ultimately coming in early 2006.

That's precisely what I am aiming to do.

This is precisely why Cap rate as an indicator of the worth of an investment opportunity can be very misleading indeed!