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A property is purchased for 2 , 2 0 0 , 0 0 0 & has NOI of 1 8 5 0 0 0 for

A property is purchased for 2,200,000 & has NOI of 185000 for the first year. If the NOI grows by 5% per year & the investor sells the property at a 6.5% cap rate at the end of the 5th year (using year 6 NOI), what will the return on investment be?

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