I should take a drive down and check out the area. 

What other factors do you think are important that could be quantified and compared across all the MSAs? 

like Robert I'm tired of driving from Durham 2-3 times a week.

I drive to San diego from LA to check out RE at some point. 

In your calculation did you factor in vacancy, property mgmt, and capex reserves?  

I understand it's a cheap home to purchase, but keep in mind that it's a 2bed, 1 bath and that's a major limiting factor in the future. 

If I read this rightGross Income Reported is $81900Vacancy 5%GIR-Vac @ 5% is $77805NOI $55805From what I can calculate that works out to a 9.71% cap rateWhich puts the est Property Value at $541,867 That's not too far off which is good.With the 50% method and using 10% Vacancy Rate, it drops the value down to $357,862 Gross Income Reported $ 81,900 Vacancy 10% GIR -VAC $ 73,710 NOI $ 36,855 Listed Cap % 9.71 Est Prop Value $ 357,862 Now again my math may be off but I think that you should be somewhere between those 2 numbers on price and of course that will depend on a lot of other factors and how conservative or aggressive you want to be with your numbers. 

I took Stringham solely online since I didn't want to drive an hour to classes (from Davis County).

@Lateeka Mosley It is possible, but there are several factors involved that can potentially kill the deal.

I have looked out of state and while the market pricing is more reasonable, I prefer to have something I can drive too.