Real Estate Math
A Maine vacation home is rented 18 weeks per year at $2,200/week. The owner's annual rental income is:
A$27,600
B$33,000
C$39,600✓ Correct
D$44,000
Explanation
Annual rental income = 18 weeks × $2,200/week = $39,600. Using the values given ($2,200), apply the appropriate formula..
Related Maine Real Estate Math Questions
- A Maine property's NOI is $72,000. Operating expenses including vacancy equal 40% of potential gross income. What is the potential gross income?
- A Maine investor buys a duplex for $280,000 with a 20% down payment. Annual NOI is $19,600. Cash-on-cash return based on equity invested is:
- A Maine property management company charges 9% of collected rents plus a $200 monthly management fee. On a month with $8,500 in collected rents, the total management cost is:
- A Maine investor uses the 50% rule as a screening tool: operating expenses (excluding mortgage) are estimated at 50% of gross rent. Monthly gross rent is $2,800. Estimated monthly operating expenses are:
- A Maine house has a lot of 0.75 acres and a house footprint of 1,800 sq ft. What percentage of the lot is covered by the structure?
- A Maine property generates $9,600 per year in net income. If the investor paid $120,000, their cap rate is:
- A Maine buyer pays $485,000 for a home. The homestead exemption is $20,000 and the mill rate is 14. After one year, annual property taxes are:
- A Maine property's mill rate is 22 and the assessed value is $275,000. There is a $20,000 homestead exemption and a $10,000 veteran's exemption. The annual tax is:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →