Real Estate Math
A New Mexico rental property generates $2,800/month rent. The property taxes are $2,400/year, insurance is $1,200/year, and maintenance is $3,000/year. What is the annual NOI?
A$26,000
B$27,000✓ Correct
C$28,000
D$30,000
Explanation
Annual gross rent = $2,800 × 12 = $33,600. Annual expenses = $2,400 + $1,200 + $3,000 = $6,600. NOI = $33,600 - $6,600 = $27,000.
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