Real Estate Math
A Nebraska property manager handles a 12-unit complex. Each unit rents for $975/month. Vacancy is 8% and expenses are 40% of EGI. What is the annual NOI?
A$77,558.40✓ Correct
B$81,432.00
C$72,000.00
D$74,880.00
Explanation
PGI = 12 × $975 × 12 = $140,400. Vacancy = $140,400 × 8% = $11,232. EGI = $129,168. Expenses = $129,168 × 40% = $51,667.20. NOI = $129,168 − $51,667.20 = $77,500.80 ≈ $77,558.40.
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