Real Estate Math
A Connecticut agent lists a property at $459,000. The seller wants to net $430,000 after a 5% commission. Was the listing price set correctly?
AYes, $459,000 × 95% = $436,050, which is above the $430,000 net
BNo, the required list price should be $452,632 to net $430,000✓ Correct
CYes, because $459,000 - 5% = $429,000 which is close enough
DNo, the list price must be at least $473,000
Explanation
$459,000 × (1 - 0.05) = $459,000 × 0.95 = $436,050. This exceeds the $430,000 net goal. To net exactly $430,000: required price = $430,000 ÷ 0.95 = $452,632. At $459,000, the seller would net $436,050—more than required. So yes, the listing is set correctly (it meets and exceeds the goal).
Related Connecticut Real Estate Math Questions
- A Connecticut commercial property has annual gross income of $420,000, a 5% vacancy allowance, and annual operating expenses of $155,000. What is the NOI?
- A Connecticut buyer has $85,000 for a down payment. The maximum home they can afford with a 20% down requirement is:
- A Connecticut property has an assessed value of $240,000 and the tax rate is 28.5 mills. What is the annual property tax?
- A buyer takes out a $280,000 mortgage at 6.5% annual interest. What is the first month's interest charge?
- A Connecticut broker charges a 5% commission on a sale. The property sells for $380,000. What is the total commission?
- A property manager collects 8% of gross monthly rent as a management fee. If gross monthly rent is $12,500, what is the monthly management fee?
- A Connecticut property's assessed value is 70% of its market value of $350,000. The mill rate is 30. What is the annual tax?
- A property's assessed value increased from $280,000 to $308,000. What is the percentage increase in assessed value?
Practice More Connecticut Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Connecticut Quiz →