Ohio Real Estate Math
Practice Questions & Answers (2026)
Real estate math questions appear on every Ohio real estate exam and test a focused set of calculations: commission splits, prorations (property tax, rent, interest), loan-to-value ratios, appreciation and depreciation, and area calculations. The Ohio Division of Real Estate & Professional Licensing does not provide a calculator — but the math is designed to be workable without one if you know the right formulas. Ohio candidates consistently lose points on proration questions because they apply the wrong day-count convention (360-day vs. 365-day year) or miscalculate the seller's vs. buyer's share. Work through every problem in this section until you can solve each type without hesitation.
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Ohio Real Estate Math — Practice Questions & Answers
142 questions on Real Estate Math from the Ohio real estate question bank. First 10 are free — sign up to unlock all 142.
Q1. An Ohio property is appraised at $280,000. The county auditor assesses it at 35% for tax purposes. The millage rate is 60 mills. What is the annual tax? (1 mill = $0.001 per $1 of value)
Explanation
Assessed value = $280,000 x 35% = $98,000. Annual tax = $98,000 x 60 mills = $98,000 x 0.060 = $5,880.
Q2. A broker earns a 6% commission on a $390,000 sale and splits it 60/40 with the co-op broker. How much does the listing broker receive?
Explanation
Total commission = $390,000 x 6% = $23,400. Listing broker's share = $23,400 x 60% = $14,040.
Q3. A buyer purchases a $310,000 home with an FHA loan requiring 3.5% down. What is the buyer's down payment?
Explanation
Down payment = $310,000 x 3.5% = $10,850.
Q4. A seller accepts an offer of $425,000. After paying a 5.5% commission and $4,200 in other closing costs, what does the seller net?
Explanation
Commission = $425,000 x 5.5% = $23,375. Total deductions = $23,375 + $4,200 = $27,575. Net proceeds = $425,000 - $27,575 = $397,425.
Q5. A Cleveland home sells for $185,000. The county conveyance fee is $4 per $1,000 (including the state portion). What is the total conveyance fee?
Explanation
Conveyance fee = $185,000 / $1,000 × $4 = $740.00.
Q6. A property has a gross rent multiplier (GRM) of 120 and monthly rent of $1,800. What is the estimated property value?
Explanation
Value = Monthly Rent × GRM = $1,800 × 120 = $216,000.
Q7. An Ohio property's assessed value is $84,000. The millage rate is 75 mills. What is the annual property tax?
Explanation
Annual tax = Assessed Value × Mill Rate = $84,000 × 0.075 = $6,300.
Q8. A salesperson earns a 2.5% co-op commission on a $320,000 sale. The broker takes 30% of the salesperson's commission. How much does the salesperson keep?
Explanation
Total co-op commission = $320,000 × 2.5% = $8,000. Broker's portion = $8,000 × 30% = $2,400. Salesperson keeps = $8,000 − $2,400 = $5,600.
Q9. A buyer puts 20% down on a $260,000 home. The lender charges 2 points as an origination fee. What is the dollar amount of the points?
Explanation
Loan amount = $260,000 × 80% = $208,000. Points = $208,000 × 2% = $4,160.
Q10. A property's net operating income is $28,000. If the capitalization rate is 8%, what is the property's estimated value?
Explanation
Value = NOI / Cap Rate = $28,000 / 0.08 = $350,000.
Q11. A rectangular lot is 120 feet wide and 180 feet deep. What is the lot's area in acres? (1 acre = 43,560 sq ft)
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