Real Estate Math
A Delaware property has an NOI of $72,000 and a cap rate of 7.5%. What is the estimated value?
A$960,000✓ Correct
B$720,000
C$1,080,000
D$540,000
Explanation
Value = NOI ÷ Cap Rate = $72,000 ÷ 0.075 = $960,000. To solve this, multiply the relevant values: $72,000 at 7.5%.. The correct answer is $960,000.. This is a common calculation on the Delaware real estate exam.
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