You have been asked to develop a pro forma statement of cash flow for the coming year for Autumn Seasons, a 200-unit suburban garden apartment community. This community has a mix of 40 studio, 80 one-, and 80 two-bedroom apartments with current monthly rents of $552, $602, and $802, respectively. Leases with tenants are usually made for 12-month periods. Current rents are expected to remain fixed for the next six months. After that time, monthly rents for each apartment type should increase by $12 per unit and remain at those levels for the remainder of the year.
What is the NOI for the coming year? (Enter answers in decimal format to zero places. For example, 600,105.99 would be 600,106)