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Comp 1 Comp 2 Comp 3 Price $300,000 $350,000 $375,000 Effective gross income 50,000 55,000 60,000 % operating expense 50% 4 5% 46 % NOI

Comp 1

Comp 2

Comp 3

Price

$300,000

$350,000

$375,000

Effective gross income

50,000

55,000

60,000

% operating expense

50%

4 5%

46 %

NOI

25,000

30,000

32,500

28. Consider the table above. Assume that the subject property has effective gross income of $53,000 and a NOI of $27,500. What value would a GIM approach yield (rounded to the nearest $100)?

(A) $32 4 ,600

(B) $325,600

(C) $328,600

(D) $330,000

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