Environmental
A property abutting a railroad right-of-way may be contaminated with:
AA. Radon from the railroad ballast
BB. Creosote, fuel spills, and other chemicals historically used in railroad operations✓ Correct
CC. Lead paint from railroad signals
DD. Only noise pollution, not chemical contamination
Explanation
Railroad rights-of-way are common sources of contamination including creosote (used in railroad ties), petroleum products from locomotives, herbicides used for vegetation control, and metals. Properties near railroads may require Phase II environmental investigation.
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Key Terms to Know
Net Operating Income (NOI)
The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Math Concepts
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