Real Estate Math
An Iowa property has a potential gross income of $84,000/year, a vacancy rate of 8%, and operating expenses of $30,000. What is the NOI?
A$47,280✓ Correct
B$54,000
C$48,000
D$37,280
Explanation
Effective Gross Income = $84,000 x (1 - 0.08) = $84,000 x 0.
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