Real Estate Math
A Kansas property has $2,500 in monthly gross rent. Operating expenses run 45% of gross income. Using a 7% cap rate, what is the estimated value?
A$214,286
B$235,714✓ Correct
C$250,000
D$264,285
Explanation
Annual gross = $2,500 × 12 = $30,000. Operating expenses = $30,000 × 0.
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