Real Estate Math
A North Dakota investment property has a gross income of $60,000, a 10% vacancy rate, and operating expenses of $18,000. What is the net operating income?
A$32,000
B$35,000
C$36,000✓ Correct
D$42,000
Explanation
Effective Gross Income = $60,000 × (1 − 10%) = $54,000. NOI = $54,000 − $18,000 = $36,000. To solve this, multiply the relevant values: $60,000, and $18,000 at 10%.. The correct answer is $36,000.. This is a common calculation on the North Dakota real estate exam.
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