Real Estate Math
A Portland condo rents for $2,400/month. The annual operating expenses total $8,640. What is the annual NOI?
A$8,640
B$20,160✓ Correct
C$28,800
D$2,400
Explanation
Annual gross income = $2,400 × 12 = $28,800. NOI = Gross Income − Operating Expenses = $28,800 − $8,640 = $20,160.
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