Real Estate Math
An Idaho investor owns a 10-unit apartment building. Each unit rents for $950/month. The building has a 6% vacancy rate. What is the annual effective gross income?
A$107,064✓ Correct
B$110,264
C$113,460
D$114,000
Explanation
Potential Gross Income = 10 units x $950/month x 12 months = $114,000. Vacancy loss = $114,000 x 6% = $6,840.
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