Real Estate Math
A Virginia property has monthly expenses of $1,200 and rents for $2,000/month. The effective gross income is $2,000/month. What is the annual net operating income (NOI)?
A$8,400
B$9,600✓ Correct
C$14,400
D$24,000
Explanation
Monthly NOI = Gross Income − Expenses = $2,000 − $1,200 = $800. Annual NOI = $800 × 12 = $9,600.
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