Real Estate Math
A Maine investor purchases 3 rental properties: $185,000 (8% cap rate), $250,000 (7.5% cap rate), and $320,000 (7% cap rate). Total annual NOI from all three is:
A$50,800
B$55,600✓ Correct
C$56,600
D$60,000
Explanation
NOI1 = $185,000 × 8% = $14,800. NOI2 = $250,000 × 7.5% = $18,750. NOI3 = $320,000 × 7% = $22,400. Total = $14,800 + $18,750 + $22,400 = $55,950. Closest is $56,600 but exact is $55,950.
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