Consider the table. Assume that the subject property has effective gross income of $73,000 and a NOI of $37,550.

1) What value would a GIM approach yield (rounded to the nearest $100)?

2) What value would a Cap Rate approach yield?(rounded to the nearest $100)

	Comp 1	Comp 2	Comp 3
Price	625,000	675,000	697,000
Effective gross income	75,000	78,000	77,500
% operating expense	50%	52%	54%
NOI	37,500	38,500	38,250