Real Estate Math
An Ohio apartment has a potential gross income (PGI) of $84,000. Vacancy and credit loss is 7%. Operating expenses are $28,000. What is the NOI?
A$48,120
B$49,000
C$50,120✓ Correct
D$52,000
Explanation
EGI = $84,000 × (1 − 0.07) = $84,000 × 0.93 = $78,120. NOI = $78,120 − $28,000 = $50,120. Answer is C.
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