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What is the estimated market value of the same building described above utilizing the direct capitalization method if the cap rate for apartments of similar quality is 7%? Use the 2nd year NOI solved for above.

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abidhussain7972

Answer:

Answer=$865,882.14

Explanation:

Current Market Value = Net Operating Income/Cap Rate

= $60,612/ 0.07 (Using 2nd year NOI & Cap rate as 7%)

= $865,882.14

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