The problem is you will not know what a college will do until they do it. The NPC is your best guess. However the NPC will only tell you how they treat the asset (can you possibly consider the rental a business in some way, business assets according to some sources is treated a little more kindly as an asset but not sure if it is worth it if you have to change how it is titled).
As for income, most rental property owners deduct expenses, taxes and depreciate their property so that 25k will be much lower by the time your accountant is done, or is that already your net income? The question is whether CSS colleges will add back in the depreciation and other similar…
However I am a little confused on your numbers. Is your equity in the rental 75k or is that what it is worth gross? What would you sell it for? What is your basis after depreciation recapture and factoring in expenses?
The 25k rental income is that what you net after expenses or gross? If it is gross what do you net?
As someone else said, 25k on a 75k investment is a great return. The question is what are your carrying costs if you do not get another tenant soon?