Real Estate Math
A Delaware commercial lease has a base rent of $18 per square foot per year for 3,500 square feet. What is the monthly rent?
A$5,250✓ Correct
B$4,500
C$6,300
D$63,000
Explanation
Annual rent = 3,500 sq ft × $18/sq ft = $63,000. Monthly rent = $63,000 ÷ 12 = $5,250.
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Key Terms to Know
Gross Rent Multiplier (GRM)
A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Math Concepts
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