You own a house that you rent for $$1,175$ per month. The maintenance expenses on the house average $$215$ per month. The house cost $$222,000$ when you purchased it $4$ years ago. A recent appraisal on the house valued it at $$244,000.$ If you sell the house you will incur $$19,520$ in real estate fees. The annual property taxes are $$2,650.$ You are deciding whether to sell the house or convert it for your own use as a professional office. What value should you place on this house when analyzing the option of using it as a professional office?

Multiple Choice

$$222,000$

$$244,000$

$$224,480$

$$0$

$$220,440$