Real Estate Math
An investor purchases a duplex for $350,000. Each unit rents for $1,400/month. Annual operating expenses are $12,000. What is the annual NOI?
A$21,600✓ Correct
B$33,600
C$45,600
D$21,000
Explanation
Annual gross rent = 2 × $1,400 × 12 = $33,600. NOI = $33,600 − $12,000 = $21,600.
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