The only catch is the HOA is $260 a month plus $65 hazard insurance plus $200 cap for utilities water and lights, internet comes in HOA dues.

Cap rates vary by neighborhood and region. 

Then it is prorated for the time you've lived there.  0, 15, or 20% cap gain plus depreciation recapture.  

What does the cap rate tell you?  

@Ahmad Hijazi  for me I am at the twilight of my ownership in rentals only have 5 left out of 350 + houses.for cap ex for someone who does not have significant reserves I think this is critical...

What are some reasonable rents/expense ratios/cap rates, net cash flows per unit, etc. in different South Florida neighborhoods?  

I might be a little bit reluctant to let it go since it is not easy to find features like this house has.

You can trade cap rate for appreciation, and vice versa.

You should check into a new Caps Lock key.

Looking for advice on this deal as I have never done a commercial deal.Property type: Mixed use condominium (nonconforming use variance) 1500 sqft beauty salon lease expires next year, they are asking for 4 year renewal, 500 sqft storage stable income long-term lease, parking revenue in a poolSize: 2000 sqftPurchase price : $600,000NOI: $48,000 (7.5 cap, NNN)Location: Honolulu, HICondition: Good, HVAC just replaced, needs $10k in improvements to flooringI'm interested in the property because it's a high cap rate for downtown Honolulu.