Real Estate Math
A Delaware apartment building has 30 units. 27 are rented at $1,400/month and 3 are vacant. Annual operating expenses are $144,000. What is the annual NOI?
A$310,800✓ Correct
B$454,800
C$273,600
D$168,000
Explanation
Annual Gross Rent from occupied units = 27 × $1,400 × 12 = $453,600. NOI = EGI − Operating Expenses = $453,600 − $144,000 = $309,600.
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