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You are interested in purchasing a property that has 4 one-bedroom units that rent for $1,900 per month each. The property generates an additional $5,000
You are interested in purchasing a property that has 4 one-bedroom units that rent for $1,900 per month each. The property generates an additional $5,000 in parking fees per year. Vacancy and collection losses are approximately 10%. Operating expenses total $41,000 per year and capital expenditures are approximately 5% of the propertys effective gross income. The property is partially financed so the owner must make monthly mortgage payments of $4,000. Given the information above, calculate the propertys annual net operating income (NOI).
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