Real Estate Math
A Colorado broker manages 8 properties. The average monthly rent per property is $1,850, and the management fee is 10%. What is the broker's total monthly management fee income?
AA. $1,480✓ Correct
BB. $185
CC. $14,800
DD. $1,850
Explanation
Total monthly rent = 8 × $1,850 = $14,800. Management fee = $14,800 × 10% = $1,480. To solve this, multiply the relevant values: $1,850, at 10%.. The correct answer is A. $1,480.. This is a common calculation on the Colorado real estate exam.
Related Colorado Real Estate Math Questions
- A Colorado property generates monthly gross rent of $3,500. Using a gross rent multiplier (GRM) of 140, what is the indicated market value?
- A Colorado property has a market value of $680,000 and is assessed at 6.95%. The mill levy is 65 mills. What is the annual property tax?
- A Colorado property purchased for $350,000 appreciates at 4% annually. What is the approximate value after 3 years?
- A Colorado tenant signs a 12-month lease at $1,800/month. The lease requires a security deposit equal to 2 months' rent. The tenant pays first month, last month, and security deposit upfront. What is the total amount paid at move-in?
- A Colorado investor purchases a fourplex for $600,000. Each unit rents for $1,400/month. What is the annual gross rent multiplier (GRM) using annual income?
- A Colorado property assessed at $35,000 with a mill levy of 92 mills. What is the annual property tax?
- A Colorado property's cap rate is 8% and the NOI is $64,000. What is the property's value under the income approach?
- A Colorado duplex has two units, each renting for $1,350/month. Annual operating expenses total $12,000. What is the annual NOI assuming 100% occupancy?
Practice More Colorado Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Colorado Quiz →