Real Estate Math
A property in Anderson, Indiana generates a monthly rent of $2,400 and has annual expenses of $10,800. What is the annual NOI?
A$17,000
B$18,000✓ Correct
C$15,300
D$28,800
Explanation
Annual gross rent = $2,400 × 12 = $28,800. NOI = $28,800 − $10,800 = $18,000. Using the values given ($2,400, $10,800), apply the appropriate formula.. The correct answer is $18,000.. This is a common calculation on the Indiana real estate exam.
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