Real Estate Math
A South Carolina property has an annual gross income of $54,000, expenses of $22,000, and sells at a 7% cap rate. What is the sale price?
A$428,571
B$457,143✓ Correct
C$514,286
D$542,857
Explanation
NOI = $54,000 − $22,000 = $32,000. Value = NOI ÷ Cap Rate = $32,000 ÷ 0.
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