Property Valuation
A Connecticut property has a potential gross income of $240,000 per year. Market vacancy is 7%. Other income (parking, storage) is $12,000. Operating expenses are $85,000. What is the NOI?
A$155,000
B$150,200✓ Correct
C$138,800
D$142,200
Explanation
PGI = $240,000. Vacancy = $240,000 × 7% = $16,800. EGI = $240,000 - $16,800 + $12,000 = $235,200. NOI = $235,200 - $85,000 = $150,200.
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