Real Estate Math
A 6-unit apartment building in Muncie rents for $750/unit/month. The expenses are 40% of gross income. What is the annual NOI?
A$21,600
B$32,400✓ Correct
C$43,200
D$54,000
Explanation
Annual gross income = 6 × $750 × 12 = $54,000. NOI = $54,000 × (1 − 0.40) = $54,000 × 0.60 = $32,400.
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