Real Estate MathIntermediateDelaware Exam
A 6-unit apartment building grosses $7,200 per month in rent. Annual operating expenses total $28,800. What is the annual net operating income?
A$57,600Correct
B$28,800
C$56,400
D$86,400
Why $57,600 Is Correct
Answer A: $57,600
Annual gross income = $7,200 × 12 = $86,400. NOI = $86,400 − $28,800 = $57,600.
Exam Tip: Real Estate Math
Math questions are formula-based. Memorize the key formulas: commission splits, proration, cap rate (NOI ÷ Value), GRM (Price ÷ Gross Rent), and LTV (Loan ÷ Value). Practice converting between annual and monthly figures.
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