Real Estate Math
A Michigan property has 4 units, each with a monthly rent of $950. Annual operating expenses are $16,000. What is the annual NOI?
A$29,600✓ Correct
B$45,600
C$16,000
D$38,400
Explanation
Annual gross income: 4 units × $950 × 12 months = $45,600. NOI = Gross Income - Operating Expenses = $45,600 - $16,000 = $29,600.
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