Real Estate Math
An Omaha commercial lease is 4,500 sq ft at $22/sq ft/year on a gross basis. The landlord pays $8,000/year in property taxes, $3,500 in insurance, and $9,500 in maintenance. What is the annual NOI?
A$78,000✓ Correct
B$99,000
C$79,000
D$77,000
Explanation
Gross rent = 4,500 × $22 = $99,000. Operating expenses = $8,000 + $3,500 + $9,500 = $21,000. NOI = $99,000 − $21,000 = $78,000.
Related Nebraska Real Estate Math Questions
- A Nebraska home sells for $445,000. The seller's existing mortgage payoff is $289,000, the commission is 5.5%, the closing costs paid by the seller are $6,200, and there are property tax prorations of $1,850 owed by the seller. How much does the seller net?
- A seller wants to net $180,000 after paying a 6% commission. What must the property sell for?
- A Nebraska residential property is built on a lot measuring 80 feet frontage by 120 feet depth. What is the lot area in square feet?
- If a property has a NOI of $45,000 and a cap rate of 7.5%, what is the estimated value?
- A property sells for $385,000. The county transfer recording fee is $10 per $1,000 of value. What is the recording fee?
- A Nebraska buyer's offer is $285,000. The seller paid $210,000 five years ago. What is the percentage increase in value?
- An apartment building with 8 units rents each at $750/month. The expense ratio is 45% of EGI and vacancy is 7%. What is the NOI?
- A Nebraska seller will net $180,000 after paying 6% commission and $5,200 in closing costs. What must the property sell for (rounded to nearest dollar)?
Practice More Nebraska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nebraska Quiz →