Mike Has Decided to Purchase a Real Estate Property That

question 51

Multiple Choice

Mike has decided to purchase a real estate property that is expected to generate a net operating income (NOI) of $63,000 per year. With a 9% cap rate, the property would have an estimated value of:

• A) $630,000.
• B) $187,000.
• C) $700,000.
• D) $965,000.
• E) $235,000.

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