Real Estate Math
A Vermont property has an annual gross income of $52,000, a vacancy rate of 5%, and operating expenses of $22,000. What is the NOI?
A$27,400✓ Correct
B$30,000
C$22,600
D$25,000
Explanation
Effective Gross Income = $52,000 x (1 - 0.05) = $52,000 x 0.95 = $49,400. NOI = $49,400 - $22,000 = $27,400.
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