Real Estate Math
A Florida appraiser uses the cost approach on a home. Land value = $80,000; construction cost new = $240,000; accrued depreciation = $36,000. What is the estimated value?
A$284,000✓ Correct
B$320,000
C$204,000
D$276,000
Explanation
Cost approach value = Land Value + (Cost New − Accrued Depreciation) = $80,000 + ($240,000 − $36,000) = $80,000 + $204,000 = $284,000.
Related Florida Real Estate Math Questions
- A Florida buyer closes on a home on September 15. Annual property taxes of $3,600 have not been paid. Using a 365-day year, how much does the seller owe the buyer at closing as a proration credit?
- A Florida homeowner's property has an assessed value of $180,000 with a $50,000 homestead exemption. The millage rate is 18 mills. What is the annual property tax?
- A Florida home sells for $485,000. Documentary stamp taxes on the deed are $0.70 per $100. What are the doc stamps on the deed?
- A Florida buyer makes a $35,000 down payment on a $350,000 home. The LTV ratio is:
- A Florida investor paid $195,000 for a rental property and earned a total return of $52,650 over 3 years. What was the average annual return percentage?
- A Florida property with an NOI of $54,000 and a cap rate of 9% is valued at:
- A Florida property has an assessed value of $220,000. The homestead exemption reduces it by $50,000. With a millage rate of 20 mills, what is the annual property tax?
- A property generates $5,400 per month in gross rents. Annual operating expenses are $28,800. What is the annual net operating income (NOI)?
Practice More Florida Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Florida Quiz →