You own a house that you rent for $1,375 per month. The maintenance expenses on the house average $255 per month. The house cost $230,000 when you purchased it 4 years ago. A recent appraisal on the house valued it at $252,000. If you sell the house you will incur $20,160 in real estate fees. The annual property taxes are $3,050. 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?

• $230,000

• $252,000

• $227,160

• $0

• $231,840