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Y1 Y2 Y3 Y4 Y5 Gross Income 150.0 154.5 159.1 163.9 168.8 Expenses 60.0 61.8 63.7 65.6 67.5 NOI 90.0 92.7 95.5 98.3 101.3 Capex
Y1 Y2 Y3 Y4 Y5 Gross Income 150.0 154.5 159.1 163.9 168.8 Expenses 60.0 61.8 63.7 65.6 67.5 NOI 90.0 92.7 95.5 98.3 101.3 Capex 2.0 2.0 2.0 2.0 2.0 Cash Flow 88.0 90.7 93.5 96.3 99.3 Assuming a property value of $1,200, what is the direct cap rate
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