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You are interested in purchasing a property with an estimated net operating income (NOI) of $44,000. A recent comparable property recently sold for $135,000. This

You are interested in purchasing a property with an estimated net operating income (NOI) of $44,000. A recent comparable property recently sold for $135,000. This comparable property had an operating expense percentage of 35% and an effective gross income of $60,000. What is the estimated value of the property you are interested in using the cap rate method?

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