Real Estate Math
A property in Oklahoma has a potential gross income of $72,000. Vacancy and collection loss is 6%. Operating expenses are $18,500. What is the NOI?
A$49,180✓ Correct
B$53,500
C$41,803
D$55,000
Explanation
EGI = $72,000 x (1 - 0.06) = $72,000 x 0.94 = $67,680. NOI = $67,680 - $18,500 = $49,180. To solve this, multiply the relevant values: $72,000 and $18,500 at 6%.. The correct answer is $49,180.. This is a common calculation on the Oklahoma real estate exam.
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