Real Estate Math
A Medford, Oregon apartment building has 10 units renting at $950/month. The annual vacancy rate is 5%. What is the effective gross income?
A$114,000
B$108,300✓ Correct
C$5,700
D$9,500
Explanation
PGI = 10 units × $950 × 12 months = $114,000. Vacancy loss = $114,000 × 5% = $5,700.
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