Real Estate Math
A NYC property has annual gross rents of $180,000, a 7% vacancy rate, and operating expenses of $85,000. What is the NOI?
A$95,000
B$107,400
C$82,400✓ Correct
D$180,000
Explanation
Effective Gross Income = $180,000 - ($180,000 × 7%) = $180,000 - $12,600 = $167,400. NOI = EGI - Operating Expenses = $167,400 - $85,000 = $82,400.
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