Real Estate Math
A Florida landlord has a 10-unit apartment building. 8 units rent for $950/month and 2 units rent for $1,100/month. The vacancy rate is 10%. What is the annual effective gross income?
A$105,840✓ Correct
B$100,116
C$117,600
D$97,200
Explanation
Annual PGI: (8 × $950 × 12) + (2 × $1,100 × 12) = $91,200 + $26,400 = $117,600. EGI = $117,600 × (1 − 0.
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