Real Estate Math
An Iowa commercial property has potential gross income of $120,000, a 7% vacancy rate, and operating expenses of $55,000. What is the NOI?
A$56,600✓ Correct
B$59,100
C$61,600
D$63,500
Explanation
EGI = $120,000 × (1 − 0.07) = $120,000 × 0.93 = $111,600. NOI = $111,600 − $55,000 = $56,600. Closest: $57,400.
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