Real Estate Math
If a Nevada property's NOI increased from $60,000 to $66,000 and the cap rate remained at 6%, by how much did the property value increase?
A$50,000
B$100,000✓ Correct
C$60,000
D$120,000
Explanation
Original value = $60,000 / 0.06 = $1,000,000.
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