Question: A property is purchased for $3,000,000 and has first year NOI of $233,333. The NOI grows at a rate of 3% per year and is

A property is purchased for $3,000,000 and has first year NOI of $233,333. The NOI grows at a rate of 3% per year and is sold for $3.5 Million at the end of year 10. In addition, the property is financed with a 10 year 70% LTV loan that is amortized iver 25 years with an interest rate of 5.5%. What is the DSCR for year 1?

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