Property Valuation
A Vermont property has effective gross income of $120,000 and operating expenses of $45,000. The net operating income is:
A$75,000✓ Correct
B$120,000
C$45,000
D$165,000
Explanation
Net Operating Income (NOI) = Effective Gross Income – Operating Expenses = $120,000 – $45,000 = $75,000. NOI is before debt service (mortgage payments).
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