Real Estate Math
A Rhode Island investment property has an NOI of $36,000 and a cap rate of 6%. What is the estimated value?
A$216,000
B$600,000✓ Correct
C$2,160
D$360,000
Explanation
Value = NOI / Cap Rate = $36,000 / 0.06 = $600,000. The estimated value of the investment property is $600,000.
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