Investor Rory pays slightly more than an apartment building is currently worth because she heard some intel that the university is opening a new campus a few blocks away. What principle of value is relevant to Rory's situation?

The principle of regression states that a property's value is negatively affected by the presence of lower-value properties nearby. In Rory's case, she is not concerned about other properties affecting her investment; rather, she is focused on the positive impact of the upcoming university campus. Therefore, this principle does not apply to her situation.

This principle suggests that a buyer will not pay more for a property than the cost of acquiring an equally desirable substitute. Rory's decision is influenced by the anticipated future value of the property rather than comparing it to similar properties. Thus, the principle of substitution is not relevant in this context.

The principle of contribution refers to the value added by a specific feature or improvement to a property. While improvements may enhance property value, Rory's decision is based on future expectations rather than any current features of the apartment building. Hence, this principle does not apply here.