Real Estate Math
An Iowa rental property has an effective gross income of $54,000 and a net operating income of $34,000. What is the operating expense ratio?
A29.6%
B33.3%
C37.0%✓ Correct
D40.7%
Explanation
Operating expenses = EGI − NOI = $54,000 − $34,000 = $20,000. Expense ratio = $20,000 ÷ $54,000 = 0.
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