Questions about NOI. Can anyone help me?

[Logan Aardrup]

Hey everyone, 

I am in the process of analyzing a potential deal. I have attached the link to the calculator below so you can take a look at the details. 

I am wondering how the calculator is coming up with the NOI? No matter how I try to run it I do not come up with the same numbers and am concerned I have the wrong equation for calculating NOI. I am under the impression that NOI = Income - Expenses. If I follow this equation I come up with Income = $49,800, Expenses on the low end = $34,356, which should make NOI =$15,444.

Can someone explain what I am doing wrong please?

Also, if you are interested in looking over the rest of the deal I would love your feedback!

Thank you!

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*This link comes directly from our calculators, based on information input by the member who posted.