Real Estate Math

A Massachusetts property's assessed value is $380,000 and the equalization rate is 80%. What is the estimated full market value?

A$304,000

B$475,000✓ Correct

C$456,000

D$400,000

Explanation

Full Market Value = Assessed Value ÷ Equalization Rate = $380,000 ÷ 0.80 = $475,000. To solve this, multiply the relevant values: $380,000 at 80%.. The correct answer is $475,000.. This is a common calculation on the Massachusetts real estate exam.

Related Massachusetts Real Estate Math Questions

A Massachusetts broker has a 6% listing. The listing side is 3% and the selling side is 3%. If the home sells for $725,000, how much does the listing broker earn?
A Massachusetts investment property generates an annual gross rent of $96,000. Operating expenses are 40% of gross rent. If the cap rate is 8%, what is the estimated value?
A building has 8 rental units, each renting for $1,800 per month. What is the annual gross rental income assuming full occupancy?
A buyer puts 15% down on a $480,000 property. The lender charges 1 origination point plus 0.75 discount points. What is the total points cost?
A home sells for $525,000. The buyer pays a 20% down payment and finances the rest. The lender charges 1.5 discount points on the loan. How much will the buyer pay in discount points?
An owner wants to sell at a price that will net $350,000 after a 5% commission and $8,000 in closing costs. What should the minimum listing price be?
A broker earns a 6% commission on a $390,000 sale, split 50/50 with the cooperating broker. The listing salesperson earns 65% of the listing broker's share. How much does the listing salesperson earn?
A Massachusetts apartment building has 8 units each renting for $1,800/month. Annual operating expenses are $62,000. What is the annual NOI?

Practice More Massachusetts Real Estate Questions

1,500+ questions covering all exam topics. Start free — no signup required.

Take the Free Massachusetts Quiz →