In one sentence
A property's potential gross income less vacancy and collection loss, the top line before operating expenses.
The longer version
EGI takes potential rent at full occupancy and subtracts realistic vacancy and credit loss, giving the income actually available to cover expenses and debt. It is the starting point for NOI.
Underwriting scrutinizes the vacancy assumption, because an optimistic EGI flows straight through to an inflated NOI and value.
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