Real Estate Math
A Nevada building has 20 units, each renting for $950/month. At 95% occupancy, what is the annual EGI?
A$228,000
B$216,600✓ Correct
C$219,600
D$217,800
Explanation
Gross income = 20 x $950 x 12 = $228,000. Vacancy = 5% x $228,000 = $11,400. EGI = $228,000 – $11,400 = $216,600.
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