Real Estate Math
A property rents for $2,200/month. Annual operating expenses are $8,400. What is the annual NOI (assuming no vacancy)?
A$17,400
B$18,000✓ Correct
C$18,600
D$26,400
Explanation
Annual gross income = $2,200 x 12 = $26,400. NOI = $26,400 - $8,400 = $18,000.
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