Real Estate Math
A 15-unit Texas apartment complex has potential gross income of $216,000/year. Vacancy is 6% and operating expenses are $65,000/year. What is the NOI?
A$136,960
B$138,040✓ Correct
C$140,040
D$141,000
Explanation
Vacancy loss = $216,000 × 0.06 = $12,960. Effective gross income = $216,000 − $12,960 = $203,040. NOI = $203,040 − $65,000 = $138,040.
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