Real Estate Math
A lot is 75 feet wide and 130 feet deep. The price per square foot is $12. What is the lot price?
A$105,000
B$116,400
C$117,000✓ Correct
D$109,200
Explanation
Area = 75 × 130 = 9,750 sq ft. Price = 9,750 × $12 = $117,000. Using the values given ($12), apply the appropriate formula.. The correct answer is $117,000.. This is a common calculation on the Indiana real estate exam.
Related Indiana Real Estate Math Questions
- A property has a net operating income of $45,000 and sells at a cap rate of 6%. What is the sale price?
- Indiana property taxes are $3,600 per year. The seller paid the full year's taxes in advance. If closing is on September 1, what credit does the seller receive from the buyer at closing? (Using 360-day year, 30-day months)
- A property is purchased for $175,000 and sold 3 years later for $196,000. What is the total percentage appreciation?
- A lot in Zionsville measures 1.5 acres. How many square feet is that?
- A property manager charges 8% of gross collected rents. Monthly rents collected are $12,500. What is the monthly management fee?
- An investor purchases a rental property for $350,000. The property generates $36,000 per year in gross rent and $14,400 in annual expenses. What is the capitalization rate?
- An Indiana seller accepts a 6% commission on a $510,000 sale. The commission is split 50/50. The listing agent at the brokerage receives 45% of the listing broker's half. How much does the listing agent earn?
- A property is assessed at 80% of its $320,000 market value. The tax rate is $2.50 per $100 of assessed value. What are the annual property taxes?
Practice More Indiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Indiana Quiz →