Typical MFR cap rates in East Austin

[Arvind V.]

First time MFR investor.

What sort of cap rates can one expect for multi family - say 8-12 unit - apartment blocks in East Austin? Specifically I’m looking at MLK and Mueller. I am sure rental yields are low given the kind of appreciation we are seeing.

And is it ok to assume a 40% expense ratio (roughly 25% would be taxes and 15% would be vacancy and repairs).