Real Estate Math
A Mississippi property generates $48,000 in annual gross rent. Operating expenses are 40% of EGI. Vacancy is 5%. The NOI is:
A$25,920
B$27,360✓ Correct
C$28,800
D$24,000
Explanation
EGI = $48,000 × (1 − 5%) = $45,600. Operating expenses = $45,600 × 40% = $18,240. NOI = $45,600 − $18,240 = $27,360. The correct answer is $27,360.
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