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You are considering purchasing a small income producing property. You have constructed an income statement and want to analyze it for potential acquisition. According to

You are considering purchasing a small income producing property. You have constructed an income statement and want to analyze it for potential acquisition. According to your assumptions, the property has annual NOI of $34,310. To pay for the property, you are considering taking out a loan of of no more than 70% LTV. Assuming a cap rate of 6.50%, what is the estimated value of this property?

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