Real Estate Math
A New Mexico duplex generates $1,800/month per unit in rent. Annual operating expenses are $14,400. What is the annual NOI?
A$28,800✓ Correct
B$43,200
C$30,000
D$32,400
Explanation
Annual gross rent = 2 units x $1,800 x 12 = $43,200. NOI = Gross Rent - Operating Expenses = $43,200 - $14,400 = $28,800.
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