Considering buying multifamily with 7.05% cap rate. Advice pleas
This is my first post on Bigger Pockets, so I am excited. I am considering buying a 12 units, all 2-1 for $725k in the Houston area. the current monthly rent is $7925. The current rent is lower than the market, which means it has a potential to increase the rent to $9000. I am wondering if 7.05% cap rate is too low. Thank you for your help.
Ben