Property Valuation
A property has 10 units renting at $800/month each. All units are currently occupied. Operating expenses are $40,000 annually. What is the NOI?
A$56,000✓ Correct
B$60,000
C$47,600
D$80,000
Explanation
Annual gross income = 10 × $800 × 12 = $96,000. Assuming no vacancy (all occupied), NOI = $96,000 − $40,000 = $56,000.
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