Real Estate Math
A 12-unit apartment building has a GRM of 160 and monthly gross rent per unit of $1,400. What is the estimated value?
A$2,688,000✓ Correct
B$2,419,200
C$2,880,000
D$2,016,000
Explanation
Total monthly gross rent = 12 × $1,400 = $16,800. Value = GRM × Monthly Gross Rent = 160 × $16,800 = $2,688,000.
Related Massachusetts Real Estate Math Questions
- A Massachusetts property sells for $465,000. The deed excise is $4.56 per $1,000. What is the excise tax?
- A Massachusetts property is purchased for $450,000 with a 25% down payment. If the lender charges 1.5 loan origination points, what is the cost of the points?
- A rectangular lot is 75 feet wide and 160 feet deep. If land sells for $28 per square foot, what is the lot value?
- A Massachusetts investor pays $820,000 for a commercial property and receives an annual NOI of $65,600. What is the capitalization rate?
- A Massachusetts investor purchases a rental property for $400,000 and receives monthly rent of $2,800. What is the gross rent multiplier (GRM)?
- A Massachusetts property is taxed at $15.20 per $1,000 of assessed value. If the property is assessed at $520,000, what are the annual taxes?
- A Massachusetts condo owner pays $425/month in condo fees. Over a 2-year period, how much does the owner pay in condo fees?
- A Massachusetts agent receives a 3% commission on a $640,000 sale. The agent's broker takes 40% and the agent keeps 60%. How much does the agent earn?
Practice More Massachusetts Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Massachusetts Quiz →