Real Estate Math
A Nevada apartment complex has 20 units, each renting at $950/month. Vacancy is 5%. Annual operating expenses are $90,000. What is the NOI?
A$126,600✓ Correct
B$138,000
C$141,900
D$228,000
Explanation
Annual gross income = 20 × $950 × 12 = $228,000. Effective gross income = $228,000 × 0.95 = $216,600. NOI = $216,600 - $90,000 = $126,600.05) = $216,600 - $90,000 = $126,600. The correct answer with these figures is $126,600, closest to $117,900 among choices.
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