Real Estate Math
A Kansas rental property has 6 units at $900/month each. Annual expenses are $22,000 and the cap rate is 9%. What is the estimated value?
A$400,000
B$440,000
C$445,556
D$480,000✓ Correct
Explanation
Annual gross = 6 × $900 × 12 = $64,800. NOI = $64,800 - $22,000 = $42,800.
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