CAP rate and comparable sales data - Minneapolis/St.Paul Area

[Jordan Rocca]

Hi All,

I'm wondering what sources you all use for CAP Rate/comparable sales data for MultiFamily (5+ units properties).

Any help would be much appreciated. 

Thanks!

[James Kojo]

I use the CBRE cap-rate survey, and the IRR Viewpoint report.

As of the last Viewpoint, Class-B suburban multi-family in Minneapolis is 6.0. But like the CBRE report, that's going to be for larger deals, so you can't put too much stock in those reports if you're chasing smaller deals. Still, that's probably a reasonable floor.