Real Estate Math
A property sold for $320,000. If the assessed value is 80% of market value, what is the assessed value?
A$256,000✓ Correct
B$280,000
C$240,000
D$300,000
Explanation
Assessed value = $320,000 × 80% = $256,000. To solve this, multiply the relevant values: $320,000 at 80%.. The correct answer is $256,000.. This is a common calculation on the Alabama real estate exam.
Related Alabama Real Estate Math Questions
- A seller wants to net $180,000 after paying a 6% commission. What must the property sell for?
- An investor buys a property for $425,000 and sells it 3 years later for $510,000. What is the percentage gain?
- A seller accepts an offer of $310,000 on their home. The seller's existing mortgage balance is $195,000. Closing costs are $8,000, and the real estate commission is 6%. How much does the seller net from the sale?
- A property was purchased for $180,000 three years ago. It has appreciated 5% per year (simple). What is its current value?
- An investor purchases a rental property for $320,000 with a 25% down payment. What is the loan-to-value (LTV) ratio?
- An Alabama agent earns a 3% commission on a $180,000 sale. How much is the commission?
- An agent earns a 6% commission on a sale. The listing side gets 3% and the selling side gets 3%. The home sold for $350,000. How much does each side earn?
- An investor wants a 10% return on a $500,000 investment. What annual net operating income is needed?
Practice More Alabama Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alabama Quiz →