Real Estate Math

A NJ duplex has two units each renting for $1,800/month. Annual operating expenses are $12,000. What is the annual NOI?

A$31,200✓ Correct

B$43,200

C$30,000

D$24,000

Explanation

Gross Annual Rent = 2 × $1,800 × 12 = $43,200. NOI = $43,200 – $12,000 = $31,200.

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