A Cap rate is really a reflection of the risk to the investor.

The property is in an unincorporated area, the houses are older and small, but nicely kept with large private yards, and are competing with other much newer rentals close by.The numbers in the report do not reflect the possibility that, since there is certainly enough room here, I can live on the property in my fifth wheel trailer and self manage.

Keep in mind that roughly 35% of probate filings reflect cases where the deceased didn't own property to begin with.

I'm wondering if the price reflects the fact that 1 Bed houses may be difficult to rent/sell.

Improvements will not reflect in higher property value.

I do not see it reflected in the above but hopefully you included it but did not list it."

Just knowing gross rents doesn't reflect operating expenses.

Insurance claims also have a set of $ per scope, he could have added a few more scopes but you'll never notice it because it won't get to your end, however, it will reflect when you buy/renew your insurance, it "might" increase your premium, verify with your agent and report the adjuster if he is doing something outside of your knowledge/work done.

Even the worst neighborhoods in Brooklyn (my target area) have average pricing of about 200K per unit, and even that number is skewed because of larger trades with 20+ units being so greatly discounted to reflect impact of rent control and stabilization.

I once bought a move in ready house for myself with one exterior photo and a description "needs updating, price reflects this" or similar.