Real Estate Math
A Louisiana property was purchased for $135,000 and has depreciated 15% due to market conditions. What is the current market value?
A$114,750✓ Correct
B$120,150
C$116,500
D$111,750
Explanation
Depreciation = $135,000 × 15% = $20,250. Current value = $135,000 − $20,250 = $114,750. To solve this, multiply the relevant values: $135,000 at 15%.. The correct answer is $114,750.. This is a common calculation on the Louisiana real estate exam.
Related Louisiana Real Estate Math Questions
- A Louisiana commercial property has 20,000 sq ft of leasable space, currently 15% vacant. What is the occupied square footage?
- A rectangular commercial lot in Louisiana measures 150 feet by 200 feet. What is its area in acres?
- A Louisiana investment property generates $8,500 monthly gross rent with a 7% vacancy rate and $38,000 in annual operating expenses. What is the annual NOI?
- A Louisiana property owner receives a $6,800 annual property tax bill. The assessment ratio is 10% and the millage rate is 100 mills. What is the property's approximate market value?
- A Louisiana building has a reproduction cost new of $580,000, accrued depreciation of $87,000, and the land value is $95,000. Using the cost approach, the indicated value is:
- A Louisiana property earns $2,200 per month net. An investor needs an 8% annual return on investment. What is the maximum price to pay?
- A Louisiana property has an assessed value of $120,000 (after the $7,500 homestead exemption). The parish millage rate is 80 mills. What are the annual property taxes?
- A Louisiana REALTOR® sold $4,200,000 in properties over the year. If their average commission rate was 2.8% (buyer's agent side), what did they earn before broker split?
Practice More Louisiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Louisiana Quiz →