Real Estate Math
A Minnesota parcel contains 2.5 acres. If a developer can build one house per 10,000 square feet, how many homes can be built? (1 acre = 43,560 sq ft)
A10 homes
B10.89 homes (10 buildable)✓ Correct
C15 homes
D8 homes
Explanation
Total sq ft = 2.5 x 43,560 = 108,900 sq ft. Homes = 108,900 / 10,000 = 10.89, so 10 whole homes can be built. This is a standard land subdivision calculation used in Minnesota residential development planning.
Related Minnesota Real Estate Math Questions
- A Minnesota home depreciated from $320,000 to $288,000. By what percentage did it depreciate?
- A Minnesota commercial property sells for $1,200,000 and generates an annual NOI of $96,000. What is the cap rate?
- A Minnesota agent earns a 6% commission on a $385,000 sale. If the commission is split 50/50 between the listing and selling brokerages, and the selling agent receives 60% of their side, how much does the selling agent earn?
- A Minnesota property generates $2,800/month in rent. Operating expenses are 35% of gross income. What is the monthly NOI?
- A Minnesota property sells for $340,000. The down payment is 15%. The buyer obtains a 30-year mortgage at 5.875%. Using a factor of $5.92 per $1,000, what is the monthly P&I payment?
- A Minnesota apartment building with 15 units rents at an average of $1,100/month. The current cap rate for similar properties is 6.5%. What is the estimated value using the income approach?
- A Minnesota property owner refinances their $180,000 mortgage with a new $195,000 loan at a lower rate. The Mortgage Registry Tax at $0.23 per $100 applies to the new loan amount. What is the MRT?
- A Minnesota investor buys a warehouse for $750,000 and depreciates it for tax purposes over 39 years (commercial property). What is the annual depreciation deduction?
Practice More Minnesota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Minnesota Quiz →