Real Estate Math
A 30-unit New Mexico apartment building generates $570,000 in potential gross income. With 5% vacancy, 30% operating expenses, and 0.5% reserves, what is the effective NOI?
A$369,000
B$376,342✓ Correct
C$368,000
D$350,000
Explanation
EGI = $570,000 × 0.95 = $541,500.
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