I've seen many poor investments made with single digit cap rates and even negative cash flows in hopes of getting great appreciation. 

With homes staying on the market longer, be aware of interest rates, as they can influence buyer affordability.

I would not recommend them as their points and interest rates are so high it is extremely hard to find a deal that will work with the 0% down.

Charge the tenants a higher rent rate and include utilities with their rent.

Oh and the economy, interest rates and buying sentiment matter too!!

(Interest rates and equity are key factors for cash flow)2.

Quote from @Blake Johnson: It sounds like you have a great cash flowing property with a cap rate of about 16-17%.

Not a full fledged house hack, but enough to take the sting out of the rate we got.Not all of Citrus Heights is the same, but the area near Fair Oaks/Orangevale/Carmichael has a good balance of price and quality.

Another option is to estimate value based on potential income and market cap rates, which can give you an investor’s perspective.

As rates have gone up we tightened my sold comps.