3. You are analyzing a new apartment complex (the only one of its kind) recently constructed on the fringe of an urban area. Because of its access to open areas and freedom from congestion, noise, and so forth, the units are in great demand. In fact, NOI per rental unit is almost 50% above that of slightly older but otherwise comparable units that are clustered in an area closer to the central city. Because of the high rents and virtual zero vacancies that yield a 50% premium in NOI, the owner argues that his property is worth 50% more than the other units. Comment on this assertion