Real Estate Math
A Delaware property has a potential gross income of $72,000, a vacancy rate of 5%, and annual operating expenses of $28,000. What is the net operating income (NOI)?
A$40,400✓ Correct
B$44,000
C$40,000
D$36,400
Explanation
Effective Gross Income = $72,000 × (1 − 0.05) = $68,400.
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