Real Estate Math
A Colorado building has 12 apartment units, each renting for $1,100/month. Operating expenses are $52,000/year and the vacancy rate is 5%. What is the annual NOI?
A$98,480✓ Correct
B$79,600
C$83,600
D$88,000
Explanation
Potential gross income = 12 × $1,100 × 12 = $158,400. Vacancy loss = $158,400 × 5% = $7,920.
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