Real Estate Math
A NJ building has 8 units all renting at $1,650/month with a 6% vacancy rate. Annual operating expenses are $40,000. What is the annual NOI?
A$108,896✓ Correct
B$118,400
C$111,360
D$98,000
Explanation
Gross Potential Income = 8 × $1,650 × 12 = $158,400. Vacancy = $158,400 × 0.
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