area size in calculating cma
Hello, I was wondering what distance you consider in doing cma's for rental rates,vacancy,etc. Would a 1 mile radius be acceptable or should it be either widened or narrowed? As an example, I just did a very general cma of the metroplex and it listed a 5.8 pct vacancy rate. That encompasses a huge area though, so I'd like to hear from experienced investors what sort of radius they use in doing their cma. My assumption is that the potential investment is in a densely populated area with an acceptable inventory for accurate calculations.
Anthony