Real Estate Math
A Virginia property has the following income and expenses: Gross rent $96,000, vacancy 8%, maintenance $8,000, management 8% of EGI, taxes $6,000, insurance $2,400. What is the NOI?
A$64,854✓ Correct
B$63,312
C$58,512
D$64,200
Explanation
EGI = $96,000 × (1-0.08) = $88,320. Management = $88,320 × 8% = $7,066. NOI = $88,320 - $8,000 - $7,066 - $6,000 - $2,400 = $64,854. Rounding differences aside, the
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