Real Estate Math
An investment property in Greensboro has a potential gross income of $96,000, a 5% vacancy rate, and operating expenses of $32,000. What is the NOI?
A$64,000
B$59,200✓ Correct
C$60,800
D$62,400
Explanation
Effective gross income = $96,000 x (1 - 0.05) = $91,200. NOI = $91,200 - $32,000 = $59,200.05) = $96,000 - $4,800 = $91,200. NOI = $91,200 - $32,000 = $59,200.
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