Your Team is evaluating whether to bid on an apartment complex. The complex consists of 200 units: half are one bedrooms and the other half are two. The one bedrooms rent for $800 per unit per month and the two for $1,000. The complex is 15% vacant.

The real estate expenses are $2.00 per square foot, CAM is $1.00 per square foot. Insurance and Management fees are .25 cents psf. The Capital escrow is $25,000 per year.

Please calculate the NOI