Real Estate Math
A Missouri investor buys a 6-unit apartment building. Each unit rents for $700/month. The vacancy rate is 10% and annual operating expenses are $22,000. What is the NOI?
A$23,360✓ Correct
B$28,400
C$32,400
D$25,600
Explanation
Gross annual rent = 6 × $700 × 12 = $50,400. Vacancy loss = $50,400 × 10% = $5,040.
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