Real Estate Math
A Maine property has a potential gross income of $84,000. The vacancy rate is 6% and operating expenses are $32,000. The net operating income (NOI) is:
A$52,000
B$47,040✓ Correct
C$27,040
D$46,960
Explanation
EGI = $84,000 × (1 − 0.06) = $79,040. NOI = EGI − Operating expenses = $79,040 − $32,000 = $47,040. To solve this, multiply the relevant values: $84,000 and $32,000 at 6%.. The correct answer is $47,040.. This is a common calculation on the Maine real estate exam.
Related Maine Real Estate Math Questions
- A Maine rental property has an asking price of $500,000 and generates $48,000 in annual gross rent. The annual GRM is:
- An investor buys a property for $150,000 and expects a 9% annual return. What annual income must the property generate?
- A Maine home was listed at $329,000, reduced to $315,000, and sold at $308,000. The total reduction from original list price is:
- A Maine property is sold for $285,000. The transfer tax at $2.20/$500 is split between buyer and seller. Each party pays:
- A Maine home is assessed at $185,000 with a homestead exemption of $20,000 applied. The taxable assessed value is:
- A seller owes $145,000 on their mortgage. The home sells for $265,000, and closing costs are $6,000 (including a 5% commission). What are the seller's net proceeds?
- A Maine seller wants to net $275,000 after paying a 6% commission. What must the selling price be?
- A Maine property management company manages 20 properties. In one month, one property collects $1,800 in rent, four collect $1,200 each, and five collect $950 each. The management fee is 10% of total rent collected. The fee is:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →