Years 184,452 NOI selling price purchase price 1 2 3 4 175,500 177,255 179,028 180,818 182,626 "3,000,111 3,222,333 -3,342,857 175,500 177,255 179,028 180,818 3,182,737 CF Let's add some debt the proforma -- Assume LTV =80%, Mortgage Interest rate = 3.45%, Amortization 30 year (360 months), term of 5 years (60 months) Question -- What is the net sale proceeds at the end of the 5-Year holding period? $2,366,960 $691,970 $2,370,339 $689,832