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Chapter 9 (Appraisal & Investments)
#1. A property rents for $1,500/month. Using a GRM of 150, the estimated value is:
#2. Using an 7.0% cap rate, a property with $84,000 annual NOI has an estimated value of:
#3. Using an 8.0% cap rate, a property with $96,000 annual NOI has an estimated value of:
#4. Using an 7.0% cap rate, a property with $96,000 annual NOI has an estimated value of:
#5. Cash investment: $250,000. Annual cash flow: $20,000. Cash-on-cash return is:
#6. Using an 8.0% cap rate, a property with $48,000 annual NOI has an estimated value of:
#7. The cost approach is most reliable for:
#8. Using an 7.5% cap rate, a property with $60,000 annual NOI has an estimated value of:
#9. A property rents for $2,200/month. Using a GRM of 140, the estimated value is:
#10. Cash investment: $200,000. Annual cash flow: $18,000. Cash-on-cash return is:
#11. A comparable sold for $380,000 but is superior to the subject by $25,000. What is the adjusted value?
#12. Cash investment: $350,000. Annual cash flow: $38,500. Cash-on-cash return is:
#13. In a sales comparison approach with strong comparable data, which approach typically receives primary weight for a single-family home?
#14. A sales associate labels a CMA as ‘certified appraisal for lender use.’ The compliance issue is:
#15. Functional obsolescence refers to:
#16. Cash investment: $300,000. Annual cash flow: $24,000. Cash-on-cash return is:
#17. In a sales comparison approach with strong comparable data, which approach typically receives primary weight for a single-family home?
#18. Cash investment: $200,000. Annual cash flow: $20,000. Cash-on-cash return is:
#19. External obsolescence is best described as depreciation caused by:
#20. Using an 8.0% cap rate, a property with $54,000 annual NOI has an estimated value of:
#21. Using an 8.0% cap rate, a property with $96,000 annual NOI has an estimated value of:
#22. Land value: $95,000. Replacement cost new: $340,000. Total depreciation: $68,000. What is the indicated value?
#23. Cash investment: $350,000. Annual cash flow: $35,000. Cash-on-cash return is:
#24. Using an 7.5% cap rate, a property with $72,000 annual NOI has an estimated value of:
#25. Cash investment: $200,000. Annual cash flow: $16,000. Cash-on-cash return is:
#26. Cash investment: $300,000. Annual cash flow: $24,000. Cash-on-cash return is:
#27. A broker prepares a detailed market analysis for listing purposes. This should be clearly labeled as:
#28. A sales associate labels a CMA as ‘certified appraisal for lender use.’ The compliance issue is:
#29. A property rents for $1,500/month. Using a GRM of 140, the estimated value is:
#30. Cash investment: $300,000. Annual cash flow: $27,000. Cash-on-cash return is:
#31. In a sales comparison approach with strong comparable data, which approach typically receives primary weight for a single-family home?
#32. A property sold for $350,000 with annual NOI of $21,000. What is the cap rate?
#33. The cost approach is most reliable for:
#34. Cash investment: $350,000. Annual cash flow: $35,000. Cash-on-cash return is:
#35. A property rents for $2,000/month. Using a GRM of 110, the estimated value is:
#36. A broker prepares a detailed market analysis for listing purposes. This should be clearly labeled as:
#37. The cost approach is most reliable for:
#38. Using an 8.0% cap rate, a property with $84,000 annual NOI has an estimated value of:
#39. Using an 8.0% cap rate, a property with $84,000 annual NOI has an estimated value of:
#40. Physical deterioration is:
#41. A property rents for $3,000/month. Using a GRM of 150, the estimated value is:
#42. A building has gross annual rent of $192,000, 7% vacancy, and operating expenses of $68,000. At 7.5% cap, find value.
#43. Using an 7.5% cap rate, a property with $48,000 annual NOI has an estimated value of:
#44. External obsolescence is best described as depreciation caused by:
#45. Using an 6.0% cap rate, a property with $96,000 annual NOI has an estimated value of:
#46. In a sales comparison approach with strong comparable data, which approach typically receives primary weight for a single-family home?
#47. A property sold for $350,000 with annual NOI of $22,750. What is the cap rate?
#48. Which should NOT be included when calculating NOI?
#49. A property rents for $2,200/month. Using a GRM of 150, the estimated value is:
#50. In the cost approach, which type of depreciation comes from poor floor plan design?
#51. A broker prepares a detailed market analysis for listing purposes. This should be clearly labeled as:
#52. Using an 6.0% cap rate, a property with $54,000 annual NOI has an estimated value of:
#53. Using an 6.0% cap rate, a property with $54,000 annual NOI has an estimated value of:
#54. An income property analysis shows temporary vacancy. Which NOI should typically be used for valuation?
#55. Using an 7.0% cap rate, a property with $60,000 annual NOI has an estimated value of:
#56. A CMA (Comparative Market Analysis) is:
#57. A CMA (Comparative Market Analysis) is:
#58. NOI in real estate investment stands for:
#59. A property rents for $2,800 per month and sold for $336,000. What is the Gross Rent Multiplier (GRM)?
#60. A property rents for $1,500/month. Using a GRM of 150, the estimated value is:
#61. Using an 6.0% cap rate, a property with $84,000 annual NOI has an estimated value of:
#62. A sales associate labels a CMA as ‘certified appraisal for lender use.’ The compliance issue is:
#63. Cash investment: $250,000. Annual cash flow: $25,000. Cash-on-cash return is:
#64. Cash investment: $250,000. Annual cash flow: $22,500. Cash-on-cash return is:
#65. A property has annual NOI of $102,000. If the cap rate is 8.5%, what is the estimated property value?
#66. In a sales comparison approach with strong comparable data, which approach typically receives primary weight for a single-family home?
#67. In a sales comparison approach with strong comparable data, which approach typically receives primary weight for a single-family home?
#68. The contract price is $485,000. Appraisal is $465,000. Buyer planned 90% financing. The lender will base the loan on appraised value. What is the maximum loan amount?
#69. A property sold for $400,000 with annual NOI of $30,000. What is the cap rate?
#70. A property rents for $2,500/month. Using a GRM of 120, the estimated value is:
#71. A property sold for $350,000 with annual NOI of $21,000. What is the cap rate?
#72. A property rents for $1,800/month. Using a GRM of 140, the estimated value is:
#73. Cash investment: $200,000. Annual cash flow: $16,000. Cash-on-cash return is:
#74. An investor puts $240,000 cash into a property. Annual before-tax cash flow is $21,600. What is the cash-on-cash return?
#75. A property sold for $450,000 with annual NOI of $27,000. What is the cap rate?
#76. A property rents for $1,800/month. Using a GRM of 130, the estimated value is:
#77. Cash investment: $300,000. Annual cash flow: $33,000. Cash-on-cash return is:
#78. Cash investment: $200,000. Annual cash flow: $16,000. Cash-on-cash return is:
#79. Cash investment: $300,000. Annual cash flow: $24,000. Cash-on-cash return is:
#80. A property sold for $300,000 with annual NOI of $18,000. What is the cap rate?
#81. Cash investment: $250,000. Annual cash flow: $22,500. Cash-on-cash return is:
#82. An investor requires a 9.5% cap rate and a property generates $104,500 in annual NOI. What is the maximum value?
#83. A property rents for $1,800/month. Using a GRM of 120, the estimated value is:
#85. An appraiser must value a unique custom property with no comparable sales. Which approach gains importance?
#86. Using an 7.5% cap rate, a property with $84,000 annual NOI has an estimated value of:
#87. External obsolescence is caused by:
#88. Using an 8.0% cap rate, a property with $96,000 annual NOI has an estimated value of:
#89. A property rents for $1,800/month. Using a GRM of 130, the estimated value is:
#90. A property sold for $300,000 with annual NOI of $21,000. What is the cap rate?
#91. Cash investment: $300,000. Annual cash flow: $30,000. Cash-on-cash return is:
#92. A sales associate labels a CMA as ‘certified appraisal for lender use.’ The compliance issue is:
#93. A property rents for $3,000/month. Using a GRM of 140, the estimated value is:
#94. Cash investment: $350,000. Annual cash flow: $28,000. Cash-on-cash return is:
#95. Cash investment: $250,000. Annual cash flow: $27,500. Cash-on-cash return is:
#96. In a sales comparison approach with strong comparable data, which approach typically receives primary weight for a single-family home?
#97. A sales associate labels a CMA as ‘certified appraisal for lender use.’ The compliance issue is:
#98. A property sold for $300,000 with annual NOI of $19,500. What is the cap rate?
#99. A property rents for $1,500/month. Using a GRM of 120, the estimated value is:
#100. A property rents for $2,000/month. Using a GRM of 130, the estimated value is:
#101. A property rents for $2,200/month. Using a GRM of 110, the estimated value is:
#102. Market value is best defined as:
#103. External obsolescence is best described as depreciation caused by:
#104. A property rents for $2,000/month. Using a GRM of 150, the estimated value is:
#105. A property sold for $500,000 with annual NOI of $37,500. What is the cap rate?
#106. External obsolescence is best described as depreciation caused by:
#107. External obsolescence is best described as depreciation caused by:
#108. The cap rate formula is:
#109. A property sold for $350,000 with annual NOI of $22,750. What is the cap rate?
#110. Using an 8.0% cap rate, a property with $72,000 annual NOI has an estimated value of:
#111. A property rents for $2,200/month. Using a GRM of 120, the estimated value is:
#112. A property sold for $450,000 with annual NOI of $27,000. What is the cap rate?
#113. A property rents for $1,800/month. Using a GRM of 140, the estimated value is:
#114. A broker prepares a detailed market analysis for listing purposes. This should be clearly labeled as:
#115. Cash investment: $200,000. Annual cash flow: $20,000. Cash-on-cash return is:
#116. Using an 7.0% cap rate, a property with $48,000 annual NOI has an estimated value of:
#117. A property rents for $3,000/month. Using a GRM of 140, the estimated value is:
#118. Using an 6.5% cap rate, a property with $84,000 annual NOI has an estimated value of:
#119. A sales associate labels a CMA as ‘certified appraisal for lender use.’ The compliance issue is:
#120. A property sold for $350,000 with annual NOI of $22,750. What is the cap rate?
#121. A property sold for $300,000 with annual NOI of $22,500. What is the cap rate?
#122. Cash investment: $250,000. Annual cash flow: $25,000. Cash-on-cash return is:
#123. Monthly rent is $3,200. Market GRM is 138. What is the estimated value?
#124. Market value is best defined as:
#125. Cash investment: $300,000. Annual cash flow: $33,000. Cash-on-cash return is:
#126. Two properties with similar NOI: Property A has 6% cap, Property B has 8.5% cap. Which statement is accurate?
#127. Cash investment: $250,000. Annual cash flow: $20,000. Cash-on-cash return is:
#128. A property generates $9,200 monthly rent. Market GRM is 128. What is the estimated value?
#129. A property sold for $450,000 with annual NOI of $29,250. What is the cap rate?
#130. A property rents for $2,200/month. Using a GRM of 130, the estimated value is:
#131. The cost approach is most reliable for:
#132. External obsolescence is best described as depreciation caused by:
#133. In a sales comparison approach with strong comparable data, which approach typically receives primary weight for a single-family home?
#134. A property rents for $2,500/month. Using a GRM of 140, the estimated value is:
#135. Using an 7.5% cap rate, a property with $96,000 annual NOI has an estimated value of:
#136. A property sold for $400,000 with annual NOI of $30,000. What is the cap rate?
#137. A property sold for $300,000 with annual NOI of $22,500. What is the cap rate?
#138. A property rents for $1,500/month. Using a GRM of 130, the estimated value is:
#139. A CMA (Comparative Market Analysis) is:
#140. A property rents for $2,200/month. Using a GRM of 130, the estimated value is:
#141. A property rents for $3,000/month. Using a GRM of 140, the estimated value is:
#142. An appraiser used three comps. After adjustments, the indicators are $418,000, $422,000, and $420,000. What is a reasonable final value estimate?
#143. A property rents for $2,500/month. Using a GRM of 150, the estimated value is:
#144. A property sold for $300,000 with annual NOI of $22,500. What is the cap rate?
#145. A property sold for $500,000 with annual NOI of $32,500. What is the cap rate?
#146. In a sales comparison approach with strong comparable data, which approach typically receives primary weight for a single-family home?
#147. A property sold for $300,000 with annual NOI of $22,500. What is the cap rate?
#148. Land: $88,000. Building cost new: $295,000. Accrued depreciation: 18%. Calculate total property value.
#149. A property rents for $1,800/month. Using a GRM of 150, the estimated value is:
#150. Using an 8.0% cap rate, a property with $96,000 annual NOI has an estimated value of:
#151. Using an 7.5% cap rate, a property with $48,000 annual NOI has an estimated value of:
#152. Cash investment: $350,000. Annual cash flow: $31,500. Cash-on-cash return is:
#153. Cash investment: $200,000. Annual cash flow: $16,000. Cash-on-cash return is:
#154. Cash investment: $300,000. Annual cash flow: $30,000. Cash-on-cash return is:
#155. A property rents for $1,800/month. Using a GRM of 110, the estimated value is:
#156. A property sold for $500,000 with annual NOI of $35,000. What is the cap rate?
#157. Gross Rent Multiplier (GRM) is calculated as:
#158. A property sold for $500,000 with annual NOI of $35,000. What is the cap rate?
#159. A broker prepares a detailed market analysis for listing purposes. This should be clearly labeled as:
#160. A property sold for $500,000 with annual NOI of $37,500. What is the cap rate?
#161. A property rents for $2,000/month. Using a GRM of 150, the estimated value is:
#162. A property rents for $2,200/month. Using a GRM of 150, the estimated value is:
#163. A property rents for $3,000/month. Using a GRM of 150, the estimated value is:
#164. Using an 7.0% cap rate, a property with $96,000 annual NOI has an estimated value of:
#165. A property sold for $450,000 with annual NOI of $33,750. What is the cap rate?
#166. A property sold for $350,000 with annual NOI of $22,750. What is the cap rate?
#167. In a sales comparison approach with strong comparable data, which approach typically receives primary weight for a single-family home?
#168. Cash investment: $350,000. Annual cash flow: $35,000. Cash-on-cash return is:
#169. Using an 7.0% cap rate, a property with $96,000 annual NOI has an estimated value of:
#170. A property sold for $300,000 with annual NOI of $19,500. What is the cap rate?
#171. External obsolescence is best described as depreciation caused by:
#172. A property rents for $2,500/month. Using a GRM of 150, the estimated value is:
#173. Using an 7.5% cap rate, a property with $60,000 annual NOI has an estimated value of:
#174. Using an 6.0% cap rate, a property with $72,000 annual NOI has an estimated value of:
#175. In a sales comparison approach with strong comparable data, which approach typically receives primary weight for a single-family home?
#176. Effective gross income: $275,000. Operating expense ratio: 38%. What is the NOI?
#177. Cash investment: $300,000. Annual cash flow: $24,000. Cash-on-cash return is:
#178. Using an 8.0% cap rate, a property with $72,000 annual NOI has an estimated value of:
#179. Cash investment: $300,000. Annual cash flow: $30,000. Cash-on-cash return is:
#180. Cash investment: $350,000. Annual cash flow: $28,000. Cash-on-cash return is:
#181. Assessed value is used primarily for:
#182. A property rents for $2,200/month. Using a GRM of 150, the estimated value is:
#183. Using an 7.5% cap rate, a property with $48,000 annual NOI has an estimated value of:
#184. A property rents for $2,200/month. Using a GRM of 140, the estimated value is:
#185. A property generates an annual NOI of $75,000 and was purchased for $1,000,000. What is the capitalization rate?
#186. Cash investment: $300,000. Annual cash flow: $30,000. Cash-on-cash return is:
#187. A property sold for $450,000 with annual NOI of $31,500. What is the cap rate?
#188. A property sold for $450,000 with annual NOI of $29,250. What is the cap rate?
#189. During appraisal, a factual error is discovered. What is the best professional response?
#190. External obsolescence is best described as depreciation caused by:
#191. A property sold for $500,000 with annual NOI of $32,500. What is the cap rate?
#192. In sales comparison, if a comparable is SUPERIOR to the subject, the appraiser should:
#193. Using an 7.5% cap rate, a property with $72,000 annual NOI has an estimated value of:
#194. A sales associate labels a CMA as ‘certified appraisal for lender use.’ The compliance issue is:
#195. Using a GRM of 125, estimate the value of a property with monthly rent of $2,400.
#196. Assessed value is used primarily for:
#197. Using an 6.0% cap rate, a property with $96,000 annual NOI has an estimated value of:
#198. External obsolescence is best described as depreciation caused by:
#199. External obsolescence is best described as depreciation caused by:
#200. External obsolescence is best described as depreciation caused by:
#201. Cash investment: $200,000. Annual cash flow: $22,000. Cash-on-cash return is:
#202. A property sold for $350,000 with annual NOI of $24,500. What is the cap rate?
#203. A property sold for $300,000 with annual NOI of $21,000. What is the cap rate?
#204. A sales associate labels a CMA as ‘certified appraisal for lender use.’ The compliance issue is:
#205. A property rents for $1,500/month. Using a GRM of 110, the estimated value is:
#206. A property rents for $1,800/month. Using a GRM of 150, the estimated value is:
#207. A property sold for $450,000 with annual NOI of $31,500. What is the cap rate?
#208. Replacement cost: $420,000. Physical deterioration: 15%. Land: $110,000. What is the total property value?
#209. Cash investment: $300,000. Annual cash flow: $24,000. Cash-on-cash return is:
#210. A property sold for $400,000 with annual NOI of $28,000. What is the cap rate?
#211. Cash investment: $350,000. Annual cash flow: $35,000. Cash-on-cash return is:
#212. Highest and best use must be:
#213. Purchase price: $425,000. Sale after 4 years: $513,000. Total cash flow: $44,000. What is total return?
#214. Using an 7.5% cap rate, a property with $84,000 annual NOI has an estimated value of:
#215. Assessed value is used primarily for:
#216. Market value is best defined as:
#217. A broker prepares a detailed market analysis for listing purposes. This should be clearly labeled as:
#218. Market value is best defined as:
#219. Market value is best defined as:
#220. Using an 6.0% cap rate, a property with $84,000 annual NOI has an estimated value of:
#221. Using an 7.5% cap rate, a property with $54,000 annual NOI has an estimated value of:
#222. A property sold for $500,000 with annual NOI of $32,500. What is the cap rate?
#223. Cash investment: $300,000. Annual cash flow: $24,000. Cash-on-cash return is:
#224. A CMA (Comparative Market Analysis) is:
#225. A property sold for $350,000 with annual NOI of $24,500. What is the cap rate?
#226. Using an 8.0% cap rate, a property with $72,000 annual NOI has an estimated value of:
#227. Property has effective gross income of $198,000 and operating expenses of $71,280. What is the NOI?
#228. In a sales comparison approach with strong comparable data, which approach typically receives primary weight for a single-family home?
#229. A broker prepares a detailed market analysis for listing purposes. This should be clearly labeled as:
#230. A property rents for $2,200/month. Using a GRM of 140, the estimated value is:
#231. A property rents for $2,200/month. Using a GRM of 150, the estimated value is:
#232. A property sold for $400,000 with annual NOI of $30,000. What is the cap rate?
#233. Using an 8.0% cap rate, a property with $84,000 annual NOI has an estimated value of:
#234. Using an 7.5% cap rate, a property with $60,000 annual NOI has an estimated value of:
#235. Using an 7.0% cap rate, a property with $84,000 annual NOI has an estimated value of:
#236. A comparable has a 3-car garage worth $35,000. The subject has a 2-car garage worth $24,000. How should the appraiser adjust the comparable?
#237. Using an 8.0% cap rate, a property with $72,000 annual NOI has an estimated value of:
#238. A property sold for $450,000 with annual NOI of $31,500. What is the cap rate?
#239. A property sold for $400,000 with annual NOI of $28,000. What is the cap rate?
#240. A sales associate labels a CMA as ‘certified appraisal for lender use.’ The compliance issue is:
#241. A broker prepares a detailed market analysis for listing purposes. This should be clearly labeled as:
#242. A broker prepares a detailed market analysis for listing purposes. This should be clearly labeled as:
#243. A property rents for $2,000/month. Using a GRM of 130, the estimated value is:
#244. A property rents for $2,000/month. Using a GRM of 140, the estimated value is:
#245. Using an 7.5% cap rate, a property with $84,000 annual NOI has an estimated value of:
#246. Cash-on-cash return is calculated as:
#247. Cash investment: $300,000. Annual cash flow: $33,000. Cash-on-cash return is:
#248. A CMA (Comparative Market Analysis) is:
#249. A property sold for $500,000 with annual NOI of $32,500. What is the cap rate?
#250. Cash investment: $250,000. Annual cash flow: $27,500. Cash-on-cash return is:
#251. A sales associate labels a CMA as ‘certified appraisal for lender use.’ The compliance issue is:
#252. Gross potential income: $252,000. Vacancy: 5%. Other income: $7,500. Operating expenses: $96,000. What is NOI?
#253. A broker prepares a detailed market analysis for listing purposes. This should be clearly labeled as:
#254. Gross potential rent is $216,000, vacancy is 6%, and operating expenses are $72,000. Calculate NOI.
#255. Cash investment: $250,000. Annual cash flow: $20,000. Cash-on-cash return is:
#256. Using an 7.5% cap rate, a property with $96,000 annual NOI has an estimated value of:
#257. Arm’s-length transaction means:
#258. Which is NOT included in operating expenses for NOI?
#259. A property sold for $450,000 with annual NOI of $27,000. What is the cap rate?
#260. Total investment is $450,000 with $315,000 financed. Annual cash flow is $18,900. Calculate cash-on-cash return.
#261. Using an 6.0% cap rate, a property with $54,000 annual NOI has an estimated value of:
#262. A property rents for $1,500/month. Using a GRM of 120, the estimated value is:
#263. Assessed value is used primarily for:
#264. A sales associate labels a CMA as ‘certified appraisal for lender use.’ The compliance issue is:
#265. A property sold for $450,000 with annual NOI of $33,750. What is the cap rate?
#266. A comparable sold for $425,000 with a pool worth $30,000. The subject has no pool. What is the adjusted comparable value?
#267. Cash investment: $350,000. Annual cash flow: $28,000. Cash-on-cash return is:
#268. A building’s effective age is 14 years and total economic life is 70 years. What is the straight-line depreciation percentage?
#269. A sales associate labels a CMA as ‘certified appraisal for lender use.’ The compliance issue is:
#270. A property rents for $2,000/month. Using a GRM of 150, the estimated value is:
#271. A property rents for $2,500/month. Using a GRM of 110, the estimated value is:
#272. A property sold for $300,000 with annual NOI of $22,500. What is the cap rate?
#273. Cash investment: $300,000. Annual cash flow: $33,000. Cash-on-cash return is:
#274. Cash investment: $200,000. Annual cash flow: $16,000. Cash-on-cash return is:
#275. Cash investment: $300,000. Annual cash flow: $27,000. Cash-on-cash return is:
#276. A property sold for $400,000 with annual NOI of $26,000. What is the cap rate?
#277. A property sold for $500,000 with annual NOI of $35,000. What is the cap rate?
#278. A property rents for $3,000/month. Using a GRM of 140, the estimated value is:
#279. A property sold for $450,000 with annual NOI of $29,250. What is the cap rate?
#280. A broker prepares a detailed market analysis for listing purposes. This should be clearly labeled as:
#281. A property rents for $3,000/month. Using a GRM of 120, the estimated value is:
#282. A property sold for $400,000 with annual NOI of $26,000. What is the cap rate?
#283. In a sales comparison, if a comparable is SUPERIOR to the subject in condition, the appraiser should:
#284. An office building generates $12,500 monthly NOI. At an 8% cap rate, what is the indicated value?
#285. Cash investment: $300,000. Annual cash flow: $27,000. Cash-on-cash return is:
#286. A property rents for $1,500/month. Using a GRM of 150, the estimated value is:
#287. Using an 6.0% cap rate, a property with $60,000 annual NOI has an estimated value of:
#288. Cash investment: $300,000. Annual cash flow: $24,000. Cash-on-cash return is:
#289. A property rents for $2,000/month. Using a GRM of 110, the estimated value is:
#290. Using an 7.0% cap rate, a property with $48,000 annual NOI has an estimated value of:
#291. Using an 8.0% cap rate, a property with $54,000 annual NOI has an estimated value of:
#292. A property sold for $300,000 with annual NOI of $18,000. What is the cap rate?
#293. Cash investment: $350,000. Annual cash flow: $31,500. Cash-on-cash return is:
#294. A property sold for $500,000 with annual NOI of $30,000. What is the cap rate?
#295. A broker prepares a detailed market analysis for listing purposes. This should be clearly labeled as:
#296. Cash investment: $200,000. Annual cash flow: $16,000. Cash-on-cash return is:
#297. Using an 7.5% cap rate, a property with $54,000 annual NOI has an estimated value of:
#298. External obsolescence is best described as depreciation caused by:
#299. A property rents for $2,200/month. Using a GRM of 130, the estimated value is:
#300. Using an 6.0% cap rate, a property with $96,000 annual NOI has an estimated value of:
