Real Estate Math (alternative)
A Maryland property with $44,000 NOI sells at a 5.5% cap rate. The sale price is:
A$660,000
B$720,000
C$800,000✓ Correct
D$880,000
Explanation
Value = NOI ÷ Cap Rate = $44,000 ÷ 0.055 = $800,000.
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