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Al: F Individual BiE'rCiSE' LED Widow: , VVDld (:Eucu' EEFIEZZ) '- 31s? . . V i - 9312 . D E's zgsg EDDkAmIqua' 11 ' A A \"5' 5*?A = AaBbCEDd AaBbCEDd Aa AaB AaBb( AaBchD AaEchDn' AaBchDd AuBbCde AaBchDK , wt , v w 95} {EEK-ti B I u . abs x, x2 av \"In A' I a my aura-13E a? 2 ea alga amass Ease maa Samara : k in, mm r. ?E r. 1% r, SEE A Problem 1: Valuing Residential Real Estate (10) u You are considering the purchase of the house located at 6500, Ellenwood Avenue, St. Louis, MO 63105. (For the uninformed this is our Dean's house). The house has about 6,460 safeet of heated and cooled living area, and the current owners are asking a price of $1.5 million for it. Use the information provided in the following table to determine an initial estimate of the value of the house. u a Comparable 1 a Comparable 2 a Comparable 3 a a Address e 6450 Ellenwood Ave, 6440 Cecil Ave, 6475 Wydown Blvd, .= Clayton, MO 63105 a Clayton, MO 63105 a Clayton, MO 63105 a Sale Price a $1 .3M .1 $1.09M .J $11705M .1 .= Square footage a 6247 a 5535 a 7210 a a Date sold.) 5/7/2012 6/27/2012 2/29/2012.) .= .4 What additional information would help you estimate the reasonableness of the sale price? u Zillow, (a real estate website www.zillow.com) estimates the rent on the property to be $10000/ month. Using this and a projected maintenance expense of $150 per month and a marginal tax rate of 25%, what is the value of the house as a pure investment property if your discount rate is 10% u DW'LIAM '7. Val\";r. Cinn'l/ Thaw. Dr: Ghana [1 m $1E>E4E 770.? E il) g a -447... 140%

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