Real Estate Math
A new building in Brooklyn has 20 units. 16 are rented at $2,200/month and 4 are vacant. Annual operating expenses are $110,000. What is the annual NOI?
A$211,200
B$528,000
C$312,400✓ Correct
D$101,200
Explanation
Annual gross rent from occupied units = 16 × $2,200 × 12 = $422,400. NOI = $422,400 − $110,000 operating expenses = $312,400.
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