Real Estate Math
A 6-unit NC apartment building has a potential gross income of $84,000/year. Vacancy is 8%, operating expenses are $28,000. What is the NOI?
A$49,280✓ Correct
B$47,280
C$50,000
D$56,000
Explanation
EGI = $84,000 x (1 - 0.08) = $84,000 x 0.92 = $77,280. NOI = $77,280 - $28,000 = $49,280. To solve this, multiply the relevant values: $84,000 and $28,000 at 8%.. The correct answer is $49,280.. This is a common calculation on the North Carolina real estate exam.
Related North Carolina Real Estate Math Questions
- A property manager charges a 9% management fee on collected rents. If the property collects $18,500/month, the annual management fee is:
- A property is listed at $425,000. The buyer offers $410,000. If the seller accepts, what is the commission at 5.5%?
- A home sells for $425,000 and the broker charges a 5.5% commission. What is the total commission?
- A buyer in NC offers to purchase a property subject to a financing contingency of $260,000 at 6% for 30 years. If the appraised value comes in at $270,000 and the purchase price is $280,000, how much must the buyer pay above the appraised loan base?
- A Raleigh-Durham area home sells for $625,000. What is the NC excise tax?
- A NC property's assessed value for tax purposes is $320,000 and the property tax rate is $1.10 per $100 of assessed value. The annual taxes are:
- A property in Wilmington, NC has a 7% cap rate and generates an NOI of $42,000. What is the estimated value?
- A seller in NC wants to net $400,000 after paying a 6% commission. What must the sale price be (rounded to nearest dollar)?
Practice More North Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →