Real Estate Math
A Maine property was listed for $325,000 in January. By June, after two price reductions totaling 8%, the new list price is:
A$295,000
B$299,000✓ Correct
C$299,500
D$302,500
Explanation
$325,000 × (1 − 0.08) = $325,000 × 0.
Related Maine Real Estate Math Questions
- A Maine property sold for $390,000. The listing broker received 3% and the buyer's broker received 2.5%. Total commission paid was:
- A Maine investor purchases 3 rental properties: $185,000 (8% cap rate), $250,000 (7.5% cap rate), and $320,000 (7% cap rate). Total annual NOI from all three is:
- A Maine home was purchased for $295,000 with a 5% down payment. The PMI rate is 0.85% of the loan amount annually. Monthly PMI is:
- A Maine investor purchases a foreclosure property for $185,000, spends $35,000 on renovations, and sells it for $260,000. The gross profit is:
- A Maine home purchased for $195,000 with a 90% LTV loan has monthly taxes of $325 and monthly insurance of $110. The principal and interest payment is $1,180. The total PITI payment is:
- A Maine investment property has a net operating income of $54,000 and annual debt service of $42,000. The annual cash flow before taxes is:
- A Maine real estate investor uses the 1% rule to screen rental properties. Under this rule, the monthly rent should be at least 1% of the purchase price. For a $250,000 property, the minimum monthly rent should be:
- A Maine home's list price is $385,000. The seller accepts an offer at 96.5% of list price. The accepted offer price is:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →