Real Estate Math
A quarter section of land is sold at $2,500 per acre. What is the total sale price?
A$160,000
B$200,000
C$400,000✓ Correct
D$640,000
Explanation
A quarter section = 160 acres. Sale price = 160 × $2,500 = $400,000. Using the values given ($2,500), apply the appropriate formula.. The correct answer is $400,000.. This is a common calculation on the Arizona real estate exam.
Related Arizona Real Estate Math Questions
- A 20-unit Arizona apartment building has an average monthly rent of $1,100 and an 8% vacancy rate. Annual operating expenses are $85,000. At a 6.5% cap rate, what is the property's value?
- A property has an assessed value of $180,000. The city tax rate is $12.50 per $1,000 of assessed value, and the county tax rate is $8.75 per $1,000. What is the total annual property tax?
- An Arizona homeowner makes $200,000 in insurance claim after a fire destroys their property. They paid $350,000 for the property 5 years ago (land value $80,000; building $270,000). After receiving the insurance payment and rebuilding costs of $180,000, what is their approximate net position?
- In Arizona, an FHA loan on a $340,000 property with 3.5% down payment requires an upfront MIP of 1.75%. What is the total upfront MIP amount?
- A buyer wants to put 20% down on a $385,000 home. They also need to pay 2% of the loan amount in closing costs. What is the total cash the buyer needs at closing?
- A buyer in Arizona purchases a home for $420,000 with a 20% down payment. What is the amount of the buyer's mortgage loan?
- A home sells for $425,000. The commission rate is 6%. How much is the total commission?
- A commercial building has 15,000 square feet of leasable space. If 12,750 square feet is currently occupied, what is the vacancy rate?
Practice More Arizona Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →