Greetings,
Are market cap rates posted online? or how can I best research this for a new region/neighborhood?
I’m trying to find a place where I can access this type of information, quickly, without having to make to many phone calls.
I am looking to purchase 5-20 unit multi-family properties. I am trying to decide which city/neighborhoods (upstate new york) are best for this.
Thank you.
Luis
I use LoopNet for cursory research of unfamiliar areas. You don’t have to buy the premium membership to do this.
Equity,
How/where on loopnet can you do this?
Go to “Search Properties for Sale”.
Check property type: “multifamilies” in my case.
Select the location down to the zip code level if you like.
Press search.
When the deals come up, look for the tiny line above the first listing that says “Sort By”.
Click on cap rate and they will be sorted from lowest to highest.
Click on cap rate again and they will be sorted from highest to lowest.
You’ll see the cap rate in the summary.
Alternately I’ll add, call some local brokers. They will give you a good idea as well.
Oh you mean by searching. I thought you meant loopnet published cap rates :embarrassed
Thx.