Real Estate Math
A Rhode Island property has an annual gross income of $90,000, operating expenses of $35,000, and vacancy losses of $9,000. What is the NOI?
A$45,000
B$46,000✓ Correct
C$47,000
D$55,000
Explanation
Effective Gross Income = $90,000 - $9,000 = $81,000. NOI = EGI - Operating Expenses = $81,000 - $35,000 = $46,000.
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