Real Estate Math
A Hawaii property has an effective gross income of $120,000 and operating expenses of $45,000. What is the NOI?
A$45,000
B$65,000
C$75,000✓ Correct
D$120,000
Explanation
NOI = Effective Gross Income − Operating Expenses = $120,000 − $45,000 = $75,000. Using the values given ($120,000, $45,000), apply the appropriate formula..
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Key Terms to Know
Amortization
The gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Math Concepts
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