Real Estate Math
A property generates monthly gross rent of $2,400. Using a GRM of 110, what is the estimated property value?
A$264,000✓ Correct
B$288,000
C$316,800
D$240,000
Explanation
Annual gross rent = $2,400 × 12 = $28,800. Value = Annual Gross Rent × GRM = $28,800 × 110 = $3,168,000.
Related Delaware Real Estate Math Questions
- A buyer in Delaware closes on August 15. Annual property taxes of $3,600 have been paid by the seller for the full year. How much does the buyer owe the seller in proration (using a 365-day year)?
- 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?
- A Delaware property is assessed at $250,000. The tax rate is 1.2% of assessed value. What is the annual property tax?
- A Delaware lot measures one-half acre. How many square feet is it? (1 acre = 43,560 sq ft)
- A rectangular lot in Delaware measures 150 feet wide by 200 feet deep. How many square feet is the lot?
- A Delaware property has a gross operating income of $55,000 and an operating expense ratio of 45%. What is the net operating income?
- A Delaware property is 180 feet wide and 220 feet deep. How many acres is the lot?
- A listing expires after 6 months without selling. The seller relists at a price 8% lower than the original $375,000. What is the new listing price?
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →