What is the effective gross income used in calculating noi, Finance Basics

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What is the effective gross income used in calculating noi

Problem

Main street apartments has 4 apartments rented at $1075/month, laundry income of $5370 per year and 11 storage lockers rented at $30 per month. The vacancy rate is 1.6%. What is the effective gross income(to two decimal places) used in calculating NOI for this property?

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Finance Basics: What is the effective gross income used in calculating noi

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