Real Estate MathIntermediateDelaware Exam
A Delaware building was constructed for $500,000 and depreciates at 2% per year using straight-line depreciation. What is the book value after 10 years?
A$350,000
B$400,000Correct
C$450,000
D$300,000
Why $400,000 Is Correct
Answer B: $400,000
Annual depreciation = $500,000 × 0.02 = $10,000.
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.
Key Real Estate Math Terms in This Question
Related Delaware Real Estate Math Questions
- A Delaware investor purchases a rental property for $350,000 and receives $3,500 per month gross rent. What is the gross rent multiplier (GRM)?Real Estate Math
- A Delaware property sells for $320,000. The commission rate is 5.5%. What is the total commission?Real Estate Math
- What is the annual property tax rate (mill rate) if 1 mill equals $1 of tax per $1,000 of assessed value, and a Delaware property assessed at $200,000 pays $4,800 in annual tax?Real Estate Math
- A Delaware buyer puts 15% down on a $380,000 home. What is the loan amount?Real Estate Math
- A Delaware property has a net operating income of $36,000 and sold for $450,000. What is the capitalization rate?Real Estate Math
- A Delaware commercial tenant has a 5-year lease at $25/sq ft/yr for 4,000 sq ft with a 2% annual escalation starting in Year 2. What is the total rent over the 5-year term?Real Estate Math
- A Delaware apartment building has 8 units renting at $950/month. The building sold for $912,000. What is the gross rent multiplier (GRM)?Real Estate Math
- A Delaware seller owes $145,000 on their mortgage and wants to net $85,000 after a 6% commission and $3,000 in closing costs. What must the property sell for?Real Estate Math
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →