Real Estate Math
An Indiana investment property generates a monthly gross rent of $2,200. Using a GRM of 110, what is the estimated value?
A$198,000
B$242,000✓ Correct
C$264,000
D$290,400
Explanation
Value = Monthly Rent × Monthly GRM = $2,200 × 110 = $242,000. Using the values given ($2,200), apply the appropriate formula..
Related Indiana Real Estate Math Questions
- Indiana broker Jane earns 2.5% of the sale price on a $480,000 transaction. What is her commission?
- An Indiana buyer's FHA loan requires a 1.75% upfront mortgage insurance premium (MIP) added to the loan amount. On a base loan of $280,000, what is the total financed amount?
- A commercial property in Evansville has an NOI of $84,000 and a market cap rate of 8%. What is the estimated value?
- A property in Terre Haute, Indiana has a building value of $180,000 and land value of $45,000. The building has a useful life of 30 years. What is the annual straight-line depreciation for tax purposes?
- An Indiana broker's sales associate receives 60% of the commission the broker earns. The broker earns a 3% co-broke on a $250,000 sale. How much does the sales associate receive?
- A rectangular lot measures 150 feet by 200 feet. What is the area in acres? (1 acre = 43,560 sq ft)
- A property is purchased for $175,000 and sold 3 years later for $196,000. What is the total percentage appreciation?
- An Indiana home sells for $395,000. The listing broker splits the 5.4% commission equally with the buyer's broker. Each broker pays their agent 55%. How much does the listing agent earn?
Practice More Indiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Indiana Quiz →