Definition: Money or other economic benefit received from work, investments, property, or business activity. In property analysis, specify whether the figure represents gross receipts, operating income, cash flow, or taxable income.
Example
A rental property's receipts are $36,000, but expenses reduce the income available to its owner.
Keep the distinction clear
Income is not automatically profit. Different calculations deduct different items, so identify the measure before comparing properties or evaluating borrowing capacity.
Related terms
Net Operating Income (NOI) · Cash Flow · Taxable Income
Keep studying
Income Approach: NOI, Cap Rate, Property Value, and Cash-on-Cash Return
References: FREC Course II syllabus: investment concepts
Pronunciation (US): IN-kum (capitals show stress)
Pronunciation reference: Merriam-Webster
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