Real Estate Math
A Wyoming property has monthly NOI of $3,500. At a 7.5% annual cap rate, what is the property value?
A$420,000
B$468,000
C$560,000✓ Correct
D$700,000
Explanation
Annual NOI = $3,500 x 12 = $42,000. Value = Annual NOI / Cap Rate = $42,000 / 0.
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