Real Estate Math
A New Mexico property has a potential gross income of $60,000, a vacancy rate of 5%, and operating expenses of $18,000. What is the NOI?
A$39,000✓ Correct
B$42,000
C$33,150
D$57,000
Explanation
Effective Gross Income = $60,000 × (1 - 0.05) = $57,000.
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