Question: Consider the table. Assume that the subject property has effective gross income of$53,000 and a NOI of $27,500. What value would a cap rate approach

Consider the table. Assume that the subject property has effective gross income of$53,000 and a NOI of $27,500. What value would a cap rate approach yield (roundedto the nearest $100)? Comp 1 Comp 2 Comp 3 Price $300,000 $350,000 #375,000 Effective grossincome 50,000 55,000 60,000 % operatingexpense 50% 55% 54% NOI $25,000 $24,750 $27,600 $362,402 $328,600 $318,000 $325,600

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