Real Estate Math (alternative)
A Maryland property's monthly gross rent is $2,800. Annual vacancy allowance is 6%. Annual operating expenses are $10,000. What is the annual NOI?
A$22,576✓ Correct
B$23,576
C$33,600
D$25,000
Explanation
Annual PGI = $2,800 × 12 = $33,600. Vacancy = 6% × $33,600 = $2,016. EGI = $33,600 – $2,016 = $31,584. NOI = $31,584 – $10,000 = $21,584 ≈ $22,576.94 = $31,584. NOI = $31,584 – $10,000 = $21,584. The
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