Real Estate Math
A Michigan property rents for $1,800/month. Annual expenses are $7,200. What is the annual net operating income?
A$14,400✓ Correct
B$21,600
C$7,200
D$28,800
Explanation
Annual gross rent = $1,800 × 12 = $21,600. NOI = Gross rent − Expenses = $21,600 − $7,200 = $14,400.
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