Real Estate Math
A seller accepts a full-price offer of $458,000. Annual taxes of $3,660 are paid in advance through December 31. Closing is May 31 (day 151). The buyer receives a tax credit. How much is the buyer's tax credit for the remaining days (May 31 to Dec 31 = 214 days)?
A$2,143.23✓ Correct
B$2,145.37
C$2,147.51
D$2,149.73
Explanation
Daily tax = $3,660 / 365 = $10.027/day. Buyer's credit (remaining days = 214) = 214 x $10.027 = $2,145.78.23 — minor rounding difference). Best match is A.
Related Idaho Real Estate Math Questions
- A home purchased for $310,000 is sold 4 years later for $372,000. What is the annual appreciation rate (simple, not compounded)?
- A property manager charges 10% of collected monthly rents. The building generates $8,500/month in rents with a 5% vacancy rate. What is the manager's monthly fee?
- A property was listed at $450,000 and sold for 96% of list price. What was the sale price?
- A property generates annual NOI of $45,000. The investor requires a 9% return. What is the maximum price the investor should pay?
- A buyer obtains a 30-year mortgage for $250,000 at 7% interest. Using a factor of $6.65 per $1,000 borrowed, what is the approximate monthly P&I payment?
- A rectangular lot measures 150 feet wide by 200 feet deep. What is the area in acres? (1 acre = 43,560 sq ft)
- A broker charges a 6% commission on a $425,000 sale. The listing agent receives 3% and the buyer's agent receives 3%. How much does the listing agent's brokerage receive?
- A property has a gross monthly rent of $2,400. Using a gross rent multiplier (GRM) of 120, what is the estimated property value?
Practice More Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →