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Updated about 7 years ago,
Based on Depreciation, how much did this seller pay?
I’m looking at a mobile home park and they provided the income statement. Based on the depreciation amount listed, I’m trying to determine how much the seller paid for the property.
Depreciation amount was $60k per year. No park owned homes. Using my simple approach of 15 year amortization (60k x 15), I get $900k.
Any better way to determine this?