Real Estate Math
A Wyoming property has a potential gross rent of $24,000/year with $3,000 in vacancy and $1,500 in credit losses. Operating expenses are $8,000 and mortgage payments are $6,000. What is the NOI?
A$5,500
B$11,500✓ Correct
C$13,000
D$19,500
Explanation
EGI = $24,000 - $3,000 - $1,500 = $19,500. NOI = EGI - Operating Expenses = $19,500 - $8,000 = $11,500. Mortgage payments are NOT deducted when calculating NOI.
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