Real Estate Math
A Wisconsin apartment building has 8 units, each renting for $850/month. The vacancy rate is 8%. Annual expenses are $22,000. What is the annual NOI?
A$53,072✓ Correct
B$59,280
C$61,200
D$59,200
Explanation
Gross income = 8 × $850 × 12 = $81,600. EGI = $81,600 × 0.92 = $75,072. NOI = $75,072 − $22,000 = $53,072. (Check answer selections; closest to $57,280 with adjusted vacancy.)
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