There are two prices for this property:1. If you want to pay all cash, or obtain a new loan, the price is $3,264,252 - a 4.50% cap rate at the current average rents of $885. 2. If you want to assume the existing financing of $1,494,328, the price is $2,891,859. Measure of investment performance at the average rents of $885 include a GRM of 11.83, a before reserves cap rate of 5.08%, an after reserves cap rate of 4.92%, a cash on cash of 3.19% and an after tax IRR of 9.40% flattening a potential investors federal tax rate from 35% to 20%.Historically a high barrier to entry market for new construction, in 2017, the areas was identified as being short some 6,484 housing units.