You are considering the purchase of the house located at 6500, Ellenwood Avenue, St. Louis, MO 63105. (For the uninformed this is our Dean's house). The house has about 6,460 sq feet of heated and cooled living area, and the current owners are asking a price of $1.5 million for it. Use the information provided in the following table to determine an initial estimate of the value of the house. Com-arable 1 Com-arable 2 Comarable 3 Address 50 Ellenwood Ave 6%! g Lecil Ave, 6475 Wydown Blvd, la on M06 105 Cla on MO 63105 Cla on M06 105 $13M $109M $1-705M 6247 5535 7210 5m2012 maroon 2129:2012 What additional information would help you estimate the reasonableness of the sale price? Zillow, (a real estate website www.2illow.com} estimates the rent on the property to be $10000fmonth. Using this and a projected maintenance expense of $150 per month and a marginal tax rate of 25%, what is the value of the house as a pure investment property if your discount rate is 10%