Cap rates in Newark and Jersey City?

[Abdul Rasheed]

Couple of questions:

1. Aren't cap rates and hence the income-based approach the best way to figure out ARV (or market value) of an income-producing properties such as a multi-family? I know Randy covered the sales comps approach to figure the ARV. What do investors use?

2. Anybody know what would be the market cap rates for multi-families in Newark and Jersey City, if there is such thing? How will one find out?

Thanks,

Abdul