Real Estate Math
A lot that is 1/4 of a mile wide by 1/2 of a mile deep contains how many acres?
A40 acres
B80 acres✓ Correct
C160 acres
D320 acres
Explanation
1/4 mile = 1,320 feet. 1/2 mile = 2,640 feet. Area = 1,320 × 2,640 = 3,484,800 sq ft. Acres = 3,484,800 ÷ 43,560 = 80 acres.
Related Arizona Real Estate Math Questions
- A lender requires a maximum 43% debt-to-income (DTI) ratio. A borrower has monthly debt payments of $750 and gross monthly income of $5,800. Can they add a mortgage payment of $1,200?
- A property manager manages 40 units at $950/month average rent. The vacancy rate is 7.5%. What is the effective gross monthly income?
- A seller nets $280,000 after paying a 6% commission. What was the sale price?
- A seller pays a 6% commission and $8,000 in other closing costs and nets $250,000. What was the approximate sale price?
- A buyer's loan amount is $240,000. The lender charges an origination fee of 1.5%. How much is the origination fee?
- A property has a monthly NOI of $5,000. At a 6% annual cap rate, what is the value?
- A 1-acre lot sells for $87,120. What is the price per square foot? (1 acre = 43,560 sq ft)
- A commission of $18,000 is split 55/45 between the listing and selling sides. The listing agent then splits 60/40 with their broker. How much does the listing agent receive?
Practice More Arizona Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →