A building has Ground floor and 3 upper floors. There are 6 tenants per floor. Ground floor tenants pay rent of $600/ month for each flat. Upper first floor, second floor and third floor tenants, pay rent of $650 /month per flat, $700 /month per flat and $750 /month per flat respectively. Property taxes are $4000 per 6 months. Other tax is $800 /year. Building Insurance premium is $950 /year. Sweeper salary is $300/ month. Common light bill is $125/ month. Calculate market value of the property if expected rate of return on investment (Capitalization rate) is 7\%. Collection \& Management charges are $2500 /year