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A real estate investor is considering the purchase of a four - unit office building and has the following information. The purchase price is $

A real estate investor is considering the purchase of a four-unit office building and has the following information. The purchase price is $826,864 with $8,068 in acquisition costs. The first years rent is $4,422 per unit per month. Rents are expected to increase at a rate of 3.3 percent per year. Vacancy is estimated to be 7 percent of gross revenue and operating expenses are expected to be 36 percent of effective gross income.
What is the gross rent for year 3?

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