A home was purchased for $320,000 and sold for $410,000. What was the percentage of appreciation?
Why 28.1% Is Correct
Answer B: 28.1%
Exam Tip: Real Estate Math
Math questions are formula-based. Memorize the key formulas: commission splits, proration, cap rate (NOI ÷ Value), GRM (Price ÷ Gross Rent), and LTV (Loan ÷ Value). Practice converting between annual and monthly figures.
People Also Study
Related California Questions
- A home was purchased for $320,000 and sold 3 years later for $389,600. What was the total percentage appreciation over the 3 years?Real Estate Math
- A property was purchased for $380,000 and later sold for $475,000. What was the percentage appreciation?Real Estate Math
- A property was purchased for $320,000 and sold 3 years later for $389,000. What is the percentage of appreciation?Real Estate Math
- A property's annual NOI is $48,000 and it sold at an 8% cap rate. What was the sale price?Real Estate Math
Key Terms to Know
The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Study This Topic
Practice More California Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free California Quiz →