Real Estate Math
An investor buys a duplex for $350,000, collects $1,800/month from each unit, and has annual operating expenses of $18,000. What is the annual NOI?
A$21,200
B$24,000
C$25,200✓ Correct
D$43,200
Explanation
Annual gross income = $1,800 × 2 × 12 = $43,200. NOI = $43,200 − $18,000 = $25,200.
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