Real Estate Math
An Iowa landlord charges $950/month for a unit. The property taxes are $3,600/year, insurance is $1,200/year, and maintenance is $1,800/year. What is the annual net operating income?
A$4,800✓ Correct
B$4,200
C$4,080
D$5,400
Explanation
Annual gross rent = $950 × 12 = $11,400. Total expenses = $3,600 + $1,200 + $1,800 = $6,600.
Related Iowa Real Estate Math Questions
- An Iowa property manager charges 8% of monthly gross rents collected as a management fee. Monthly rents collected are $12,500. What is the management fee?
- An Iowa buyer offers $262,500 for a home. The seller counters at $275,000. They agree to split the $12,500 difference evenly. What is the final sale price?
- An Iowa property owner owes $125,000 on their mortgage and sells the property for $285,000. After paying a 6% commission and $4,500 in closing costs, what are the proceeds to the seller before paying off the mortgage?
- An Iowa homeowner purchased a home for $145,000 and sold it for $218,000 five years later. What was the percentage increase in value?
- An Iowa buyer wants a monthly principal and interest payment of no more than $1,200. At 7% annual interest on a 30-year fixed mortgage, the payment factor is $6.65 per $1,000 borrowed. What is the maximum loan amount?
- An Iowa office building is valued at $1,200,000. A bank will lend up to 75% LTV. What is the maximum loan amount?
- An Iowa property was listed for $289,000 and sold for $275,500. What was the percent below list price?
- An Iowa house sells for $245,000. The listing broker and buyer's broker each receive 3% of the sale price. The listing broker pays their salesperson 55% of the listing side commission. How much does the listing salesperson earn?
Practice More Iowa Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Iowa Quiz →