Evan Tarracciano | Tue, Jul 2nd 2024, 5:51am EDT

7 Undervalued Targets in Salary Cap Drafts (2024 Fantasy Football)

When it comes to fantasy football, nothing beats the freedom of a salary cap league. Unlike in snake drafts, where my choices are often dictated by my draft slot, a salary cap format allows me to construct a team that truly reflects my preferences and strategies.

It is not an issue if I want to test out or try a particular strategy. Zero RB, Hero RB, Anchor RB…it won’t make a difference. Blowing half my budget on acquiring Christian McCaffrey, Breece Hall AND CeeDee Lamb? Sure. Waiting until the first tier of talent is gone before bargain hunting later on? Absolutely.

While the freedom of salary cap leagues is exhilarating, it’s crucial to factor in your competition’s biases and preferences. Are you surrounded by Patriots fans in your draft? Be prepared to pay a premium for Rhamondre Stevenson or Drake Maye. Is your best friend a draft expert? Expect intense bidding wars for rookies. Understanding these dynamics is critical to success.

When participating in salary cap formats, it is essential to gauge players’ costs based on the tier that has them ranked among their positions rather than treating each option on a case-by-case basis.

For example, when viewing the second tier of running backs in our current ECR on the site, five players are listed – Jonathan Taylor, Jahmyr Gibbs, Saquon Barkley, Kyren Williams and Travis Etienne Jr. Having them ranked within the same tier means that they should perform (on average) somewhat close to each other. We expect their final statistics to be within striking distance from player to player. If Taylor goes off the board for $40 in a $200 cap format, the other players should be within a few dollars of that price range. Barkley shouldn’t be selected for $55, and Etienne shouldn’t only cost $25.

Based upon our Dollar Value Calculator on the site and using the “standard” league size of 12 players with a default $200 budget, there are a few players that I feel present a value worth targeting. Here are a few undervalued players to target in fantasy football salary cap drafts.

Fantasy Football Salary Cap Draft: Undervalued Targets

Quarterbacks

C.J. Stroud (QB – HOU): $7 Projection

It is all about perspective. Our most expensive option listed is Jalen Hurts at $24, which would account for more than 10 percent of one’s total budget. We currently project Hurts to finish with 352 fantasy points, passing for over 3,700 yards and 25 touchdowns, adding another 560 yards and 11 touchdowns rushing. Fantastic numbers, to be sure, though the rushing totals may diminish based upon the newfound presence of Saquon Barkley and the “tush push” play not being as easy to convert without center Jason Kelce.

Stroud is projected for just shy of 300 fantasy points, with over 4,100 yards passing and nearly 30 touchdowns. His rushing upside won’t rival Hurts (or Josh Allen or Lamar Jackson, all tier-one options), but his cost is less than one-third as much. The additions of Joe Mixon and Stefon Diggs will only bolster Stroud’s already high weekly floor of points, and I’m very confident that he will finish as a top-four option at the position, provided he can stay healthy.

Jared Goff (QB – DET): $1 projection

Put some respect on this man’s name before he starts to scream, “DO YOU LIKE THAT?” again. Goff is currently ranked as our QB13 after finishing 2023 as the overall QB8. The classic example of a non-sexy pick that will pay dividends is that Goff has thrown for over 4,400 passing yards each of the last two seasons and has averaged 295 fantasy points.

Even with slight regression baked into the cost and an inability to add value as a runner, Goff still should be more than a dollar throwaway option on a Detroit team that was on the verge of making the Super Bowl. Other options within his tier at quarterback include Jayden Daniels ($5 projection), Brock Purdy ($6) and Trevor Lawrence ($4). I’ll take the discount happily.

Running Backs

Travis Etienne Jr. (RB – JAC): $30 projection

I alluded to this selection earlier but wanted to expand upon my thoughts. In a full-point PPR format, Etienne finished SECOND overall at the position last year, thanks partly to a sharp uptick in rushing touchdowns and usage in the passing game from his freshman season. Etienne’s sporadic “boom or bust” tendencies last year have caused his ranking to fall to RB7 in ECR, as the lack of a consistent weekly floor can be challenging to deal with.

Mid-season injuries and Jacksonville’s desire to decrease his workload by giving Tank Bigsby short-yardage duties were likely culprits that are difficult to simply sweep under the rug. All that said, Etienne can finish well within the top three options again at the position, and his current Salary Cap Value has him tied with the RB13, Rachaad White. This is a case of “the hate going too far” on a player.

Devin Singletary (RB – NYG): $9 projection

One of the few unquestioned starters in the single-digits for cost, Singletary appears to be a steal, given his projected workload. During the back half of 2023, Singletary averaged nearly 20 touches per game and was a mid-range RB2 amidst a surging Houston team. Already familiar with head coach Brian Daboll’s system, he has drawn copious praise for his ability to step right into the offense, and he has little competition behind him for carries. New York made a significant investment in the offensive line during free agency, which figures to be more adept at opening up holes in the running game. Singletary’s $9 price tag ranks 35^th among backs, and I certainly feel he will outperform that.

Wide Receivers

Brandon Aiyuk (WR – SF): $22 projection

This is perhaps the biggest headscratcher I encountered. Aiyuk is ranked as our WR13 in ECR and finished as the overall WR12 in PPR formats last year. Even with modest target totals (105) in an offense that spreads the ball around, his explosive talent converted that into 1.342 receiving yards and seven touchdowns. Even if one factors in a reduction in total yards based on his 17.9 YPC other-worldly efficiency, it is difficult to envision a scenario where he doesn’t finish as a high-end WR2 option.

He is still 26 years old and ended as a top-five option in yards per route run. His current cost has him pegged as the WR20, barely ahead of Zay Flowers and Amari Cooper. Outside of Aiyuk and San Francisco being at such odds that he decides to sit out games, I can’t fathom that he doesn’t outproduce this cost.

Keenan Allen (WR – CHI): $11 projection

When it comes to mid-tier options with upside that I’ll happily add, Allen tops the list at this price. Allen’s move to Chicago during the offseason, coupled with his age (already 32) and competition for targets, has managers concerned – which I fully understand. With that said, I’d be more up in arms if he was a downfield threat losing his top-end speed or if he was an “X” option on the outside that mirrored D.J. Moore.

Allen’s calling card is his elite route-running in short to intermediate distances, a skill that will benefit rookie quarterback Caleb Williams as his new safety outlet. Gone are the days of Allen seeing more than 140 targets (a figure he surpassed five times in the last seven seasons), but even with a modest decrease, I feel he can outperform other players at a similar projected cost, such as Rashee Rice or Jordan Addison.

Tight Ends

Kyle Pitts (TE – ATL): $13 projection

Pitts continues to find his way into nearly every “underrated/undervalued” article that I’ve written in the offseason. His upside is apparent from a physical standpoint combined with what he has done when given an actual opportunity (something Arthur Smith was allergic to during his tenure). Ranked as our TE7, Pitts has the upside to easily crack the top three players at the position, now that Kirk Cousins is under center and there is a new head coach and offensive coordinator in Atlanta. His current cost is below Jake Ferguson and just one dollar ahead of T.J. Hockenson, who could potentially start 2024 on the PUP. Pitts is worth the investment.

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