Property Valuation
A property has a potential gross income of $60,000, a vacancy rate of 10%, and operating expenses of $20,000. What is the net operating income?
A$24,000
B$34,000✓ Correct
C$40,000
D$54,000
Explanation
Effective gross income = $60,000 − ($60,000 × 0.10) = $54,000.
Related Connecticut Property Valuation Questions
- A Connecticut appraiser is valuing a property in a subdivision. The subject property has a 3-car garage; the most similar comparable has a 2-car garage. The appraiser determines 1-car garage space is worth $8,000 in this market. The adjustment to the comparable is:
- The cost approach is MOST reliable for appraising:
- An appraiser using the cost approach to value a property would:
- Capitalization rate (cap rate) is calculated by:
- The 'reconciliation' step in an appraisal involves:
- In appraising an older industrial building in Connecticut, which approach would an appraiser MOST likely use?
- In the cost approach, 'reproduction cost' differs from 'replacement cost' in that reproduction cost is the cost to:
- Regression, as an appraisal principle, means that:
Practice More Connecticut Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Connecticut Quiz →