Real Estate MathIntermediateDelaware Exam
A property in Delaware has an annual NOI of $52,000. If the cap rate is 6.5%, what is the estimated value?
A$780,000
B$800,000Correct
C$663,000
D$740,000
Why $800,000 Is Correct
Answer B: $800,000
Value = NOI ÷ Cap Rate = $52,000 ÷ 0.065 = $800,000.
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.
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