Real Estate Math
A North Dakota rental property has a monthly gross rent of $1,800. The annual vacancy rate is 8% and operating expenses are $9,600/year. What is the NOI?
A$11,172
B$12,000
C$10,368✓ Correct
D$9,600
Explanation
Annual gross rent = $1,800 × 12 = $21,600. Vacancy loss = $21,600 × 8% = $1,728.
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