I have found that lots of newish investors are trying to buy small multifamily based on cap rates and I personally think it's a waste of time.

Which puts the value with a 8% cap at around $1,300,000.00.

This is particularly important in areas with rent caps because you can suddenly find yourself well behind market values for rent.As for how much, that depends on your market and what rents are in the area. 10% is a lot and you may have tenants move as a result. 

If floating what's the rate cap and what extension options does it have. 

How much cap ex do you need to fix the property?

More advanced financials include IRR, Cash-on-cash return, Cap Rate, 5 Year Appreciation values, and all other high-value STR metrics for a solid long-term investment.I helped create the calculator, so if you have any questions, please feel free to reach out.

Speaking with my Construction cap on here. 

My Investor clients are doing well here.Besides the better than average cap rate, Kansas City is growing and has reasonable property management rates.  

On a 5% cap building, every extra dollar of NOI equals $20 in value, so you should squeeze out as much as you possible can.

I've owned for a decade already and it's so much better than a STR and right now, the CAP rates are high, i.e. 8%.