Real Estate MathIntermediateDelaware Exam
A Delaware property is assessed at $250,000. The tax rate is 1.2% of assessed value. What is the annual property tax?
A$2,500
B$3,000Correct
C$2,800
D$3,600
Why $3,000 Is Correct
Answer B: $3,000
Annual property tax = Assessed Value × Tax Rate = $250,000 × 0.012 = $3,000.
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.
Related Delaware Real Estate Math Questions
- A Delaware tenant signs a 5-year NNN lease for a 3,200 sq ft retail space at $28/sq ft/year with 3% annual rent increases. What is the rent in Year 2?Real Estate Math
- A Delaware property generates $3,200 per month in rent. The mortgage payment (P&I) is $1,800/month, property taxes are $250/month, insurance is $100/month, and maintenance averages $200/month. What is the monthly cash flow?Real Estate Math
- A Delaware commercial building has 15,000 sq ft of total space, 2,500 sq ft of common areas (not rentable), and 12,500 sq ft of net rentable area. What is the load factor?Real Estate Math
- An investment property in Delaware has a potential gross income of $96,000. The vacancy rate is 7.5% and operating expenses total $32,000. What is the net operating income?Real Estate Math
- A Delaware buyer closes on March 15. Prepaid homeowner's insurance of $1,800 per year was paid on January 1 for the full year. How much does the seller credit the buyer at closing (using a 365-day year)?Real Estate Math
- A broker lists a property for $180,000 and agrees to a 6% commission. The broker splits 50% with the buyer's agent. How much does the listing broker receive?Real Estate Math
- A Delaware buyer's gross monthly income is $7,500. Using a 43% back-end (total debt) ratio, what is the maximum total monthly debt (including housing)?Real Estate Math
- A Delaware seller's asking price is $345,000. The property has been on the market 60 days and the seller agrees to reduce the price by 4%. What is the new asking price?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 →