The internal as-is valuation of $198,000 on the property is supported by the following data points:
• Comparable rental properties have recently sold between an estimated 13.60% and a 25.85% cap rate.
• Comparable rental properties have recently been listed between an estimated 6.90% and a 32.59% cap rate.
• There has been a 16.60% increase in the median sale price in Detroit over the past year.
• Gross monthly rents for this portfolio per leases provided by the borrower are $3,300.
• The estimated cap rate of this portfolio of properties is 12.00%.