Real Estate Math
A property has a net operating income (NOI) of $54,000. If the capitalization rate is 6%, what is the estimated value of the property?
A$700,000
B$800,000
C$900,000✓ Correct
D$1,000,000
Explanation
Value = NOI ÷ Cap Rate. $54,000 ÷ 0.
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