Property Valuation
A Connecticut property's income statement shows: Potential gross income $96,000; vacancy 5%; operating expenses $32,000. What is the NOI?
A$56,800
B$59,200✓ Correct
C$64,000
D$91,200
Explanation
Effective gross income = $96,000 × (1 − 0.05) = $96,000 × 0.95 = $91,200. NOI = $91,200 − $32,000 = $59,200.
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