Real Estate Math
A NC landlord owns a 24-unit apartment complex. Average monthly rent is $950. If the vacancy rate is 8.33% (2 units vacant), the monthly effective gross income is approximately:
A$19,950
B$20,900✓ Correct
C$22,800
D$18,050
Explanation
Occupied units = 24 - 2 = 22. Monthly EGI = 22 x $950 = $20,900.
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