Is an 11% cash-on-cash return good?

Yes. An 11% cash-on-cash return is at the upper end of the 8 to 12% range most rental investors target. It covers real operating costs with room for surprises and pays a meaningful yield on the cash in the deal. At current rates it usually means a lower-cost market or a well-bought property.

Returns near 11% typically come from properties where monthly rent is around 1% of price, from small multifamily, or from deals bought below market. In expensive metros they are rare on a financed long-term rental.

Verify the assumptions before you trust it. An 11% return with no vacancy, no management and no capital reserves is a 5 or 6% return once those are added. If the number holds up with 5% vacancy and 15 to 20% of collected rent for expenses, it is a good deal by most investors' standards and worth moving on.