Real Estate Math
A Maine property has an NOI of $55,000 and the cap rate in the market is 7%. If the NOI increases to $60,000 and the cap rate remains 7%, how much does the value increase?
A$45,000
B$57,143
C$71,428✓ Correct
D$100,000
Explanation
Original value = $55,000 ÷ 0.07 = $785,714.
Related Maine Real Estate Math Questions
- A Maine agent lists 6 properties in a quarter. Two sell for $280,000 (5% commission), two sell for $350,000 (5.5% commission), and two sell for $425,000 (5% commission). Total commissions earned by the brokerage are:
- A Maine buyer finances $256,000 at 6.5% for 30 years. Using a factor of $6.32 per $1,000, the monthly P&I payment is:
- A Maine agent lists a home for $289,000. It sells for $279,500 after 45 days on market. What percentage of list price did the seller receive?
- A Maine buyer wants to offer $320,000 for a property. The down payment is 20% and the buyer must pay 2 discount points. What is the cost of the points?
- A Maine listing agent's compensation is 3% of the sale price, plus a $500 transaction fee. If the property sells for $400,000, how much does the agent earn?
- A Maine property appreciated 8% per year for two consecutive years. If the original value was $200,000, what is its value after two years?
- A Maine property has an assessed value of $240,000 and a mill rate of 15 mills. What is the annual property tax?
- A Maine home was purchased for $220,000 and the buyer obtains an 80% LTV mortgage. If the interest rate is 6% and the loan is fully amortized in 30 years, the loan amount is:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →