Real Estate Math
An investor purchased a duplex for $280,000. Each unit rents for $950/month. Annual operating expenses are $14,400. What is the annual NOI?
A$8,400✓ Correct
B$7,400
C$22,800
D$8,000
Explanation
Annual gross income = 2 × $950 × 12 = $22,800. NOI = $22,800 − $14,400 = $8,400.
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