Real Estate Math
A New Mexico investor purchases a 4-unit property for $480,000. Each unit rents for $1,100/month. Vacancy is 5%, and operating expenses are 40% of EGI. What is the NOI?
A$23,760
B$25,344
C$30,360✓ Correct
D$21,384
Explanation
PGI = 4 x $1,100 x 12 = $52,800. Vacancy = $52,800 x 5% = $2,640.
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