Estimate the value of the property using the income approach based on the following facts: Net operating
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Question:
Estimate the value of the property using the income approach based on the following facts:
- Net operating income annually for next 3 years is $400000
- At end of three years, property is sold with an existing cap rate of 10% and a commission of 4% on sale
- The discount cap rate is the same as the existing cap rate and the operating income is assumed to be received at year end
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