Given the following information and assuming the cap rate is 9.5 percent, what is the...
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Given the following information and assuming the cap rate is 9.5 percent, what is the estimated value of the property?
Number of Units: 150 Operating Expenses: $98,000
Vacancy Rate: 3% Financing Costs: $ 85,000
Bad Debt Allowance: 2% Annual Depreciation: $15,000
Per Unit Annual Rent: $4,000
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