Real Estate Math
A Florida property has an effective gross income of $92,000 and operating expenses of $38,000. The mortgage debt service is $28,000. What is the NOI?
A$54,000✓ Correct
B$26,000
C$64,000
D$30,000
Explanation
NOI = Effective Gross Income − Operating Expenses = $92,000 − $38,000 = $54,000. Note: Debt service (mortgage payments) is NOT included in calculating NOI.
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