Mike Has Decided to Purchase a Real Estate Property That

question 21

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 percent 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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