Real Estate Math
An Iowa landlord owns a 6-unit building and charges $750/month per unit. Two units are vacant for 2 months each. What is the annual actual gross income?
A$51,000✓ Correct
B$52,500
C$54,000
D$55,500
Explanation
Potential gross income = 6 × $750 × 12 = $54,000. Vacancy loss = 2 units × $750 × 2 months = $3,000. Actual gross income = $54,000 − $3,000 = $51,000.
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