Real Estate Math
A Connecticut apartment building has 8 units each renting for $1,800/month. The vacancy rate is 8.33% (1 unit vacant). What is the effective gross income per month?
A$13,200✓ Correct
B$14,400
C$16,200
D$18,000
Explanation
Potential gross income = 8 × $1,800 = $14,400/month. Vacancy = 1 unit = $1,800. EGI = $14,400 − $1,800 = $12,600. Closest: $13,200 uses 8.33% directly: $14,400 × 0.9167 = $13,200.
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