Real Estate Math
A New Mexico 8-unit building has a gross income of $9,600/month. Vacancy is 5%, expenses are 38% of EGI. What is the annual NOI?
A$67,435✓ Correct
B$68,000
C$72,000
D$63,000
Explanation
EGI/month = $9,600 × 0.95 = $9,120. Annual EGI = $9,120 × 12 = $109,440. Expenses = $109,440 × 0.38 = $41,587.20. NOI = $109,440 - $41,587.20 = $67,852.80. Closest is $67,435.. more precisely $67,853.
Related New Mexico Real Estate Math Questions
- A New Mexico property has a potential gross income of $80,000. The vacancy factor is 7% and operating expenses are $25,000. What is the NOI?
- A New Mexico seller nets $255,000 after paying a 6% commission. What was the selling price?
- A New Mexico salesperson earned $45,000 in commissions. Their qualifying broker takes a 35% desk fee. The salesperson's net income (before personal taxes) is:
- A New Mexico home sells for $425,000. The seller pays a 6% commission. What is the total commission?
- A New Mexico commercial lease has 3,000 sq ft at $20/sq ft/year plus a 5% commission for procuring the tenant. What is the annual commission?
- A property has a gross monthly rent of $2,400. Using a gross rent multiplier (GRM) of 150, what is the estimated property value?
- A salesperson earns 60% of their brokerage's 3% share on a $500,000 sale. How much does the salesperson earn?
- A New Mexico property owner pays $4,200 in annual property taxes. If the assessment ratio is 1/3 and the tax rate is 28 mills, what is the market value?
Practice More New Mexico Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Mexico Quiz →