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What is the most we can pay for the property

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Reference no: EM132343748

A property is available for sale. We require an EDR of 15% on our $600,000 down payment, and we know the prospective property has an NOI of $300,000, before debt service. If we can borrow at 5% for 20 years with monthly payments, what is the most we can pay for the property, in total, to the nearest '000?

Reference no: EM132343748

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