Real Estate Math
An apartment complex has 48 units, all rented at $1,100/month. Annual expenses total $268,800. What is the annual NOI?
A$364,800✓ Correct
B$364,000
C$268,800
D$633,600
Explanation
Annual gross rent = 48 × $1,100 × 12 = $633,600. NOI = $633,600 − $268,800 = $364,800. Using the values given ($1,100, $268,800), apply the appropriate formula.. The correct answer is $364,800.. This is a common calculation on the Georgia real estate exam.
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