Property Valuation
A Northern Virginia office building has an effective gross income (EGI) of $500,000 and total operating expenses of $200,000. What is the NOI?
A$200,000
B$300,000✓ Correct
C$500,000
D$700,000
Explanation
NOI = EGI – Operating Expenses = $500,000 – $200,000 = $300,000. NOI does not deduct debt service (mortgage payments).
Related Virginia Property Valuation Questions
- When appraising a special-use property like a church in Virginia, the appraiser would most likely use which approach?
- When using the sales comparison approach in Virginia, an appraiser finds that a comparable property had a swimming pool but the subject does not. The appraiser should make a:
- In Virginia, the appraisal approach most commonly used for single-family residential properties is the:
- A Hampton Roads investor evaluates two properties: Property A (NOI $50,000, value $625,000) and Property B (NOI $40,000, value $444,444). Which has the higher cap rate?
- Under USPAP (Uniform Standards of Professional Appraisal Practice), a Virginia appraiser must:
- Depreciation in real property appraisal refers to:
- A Virginia appraiser is asked to do a 'desk review' of another appraiser's work. This means:
- A Virginia neighborhood is transitioning from primarily single-family to mixed-use. The appraisal principle that best describes this is:
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →