7. The subject property has a PGI of $100,000, a vacancy and collection loss of 3%, fixed expenses of $35,000, variable expenses of $25,000, and $7,000 in reserves for replacement. Recent sales of very similar properties in this market suggest that a capitalization rate of 12% is appropriate. The capitalization rates were extracted from sales in which the price was divided into the estimate of NOI from the broker without reserves. What is the market value of the subject property? Round your answer to the nearest $1,000. 8. What is the value of a property with an EGI of $1,538,000, an OER of 48%, and an overall capitalization rate (R0) of 0.08 ? Round your answer to the nearest $1,000. 9. A local investor recently purchased a small strip center for $1,235,000. He obtained a 75% mortgage at 7% interest with a 25 -year amortization. The payments are $6,546.54 per month. The buyer expected the first year's NOI to be $96,000. What is the equity dividend rate (RE) ? Enter your answer to four decimal places. 7. The subject property has a PGI of $100,000, a vacancy and collection loss of 3%, fixed expenses of $35,000, variable expenses of $25,000, and $7,000 in reserves for replacement. Recent sales of very similar properties in this market suggest that a capitalization rate of 12% is appropriate. The capitalization rates were extracted from sales in which the price was divided into the estimate of NOI from the broker without reserves. What is the market value of the subject property? Round your answer to the nearest $1,000. 8. What is the value of a property with an EGI of $1,538,000, an OER of 48%, and an overall capitalization rate (R0) of 0.08 ? Round your answer to the nearest $1,000. 9. A local investor recently purchased a small strip center for $1,235,000. He obtained a 75% mortgage at 7% interest with a 25 -year amortization. The payments are $6,546.54 per month. The buyer expected the first year's NOI to be $96,000. What is the equity dividend rate (RE) ? Enter your answer to four decimal places