Real Estate Math
A Mississippi property with a NOI of $26,000 sells at a 6.5% cap rate. What is the sale price?
A$400,000✓ Correct
B$350,000
C$500,000
D$300,000
Explanation
Value = NOI ÷ Cap Rate = $26,000 ÷ 0.065 = $400,000.
Related Mississippi Real Estate Math Questions
- A Mississippi buyer's loan application shows gross annual income of $72,000. The lender's maximum front-end ratio is 28%. The maximum allowable monthly PITI payment is:
- A Mississippi property management company charges 8% of collected rents. In January, 90% of the $25,000 in scheduled rents were collected. The management fee for January is:
- A Mississippi property sells for $175,000. The listing broker's commission is 6%, split equally between listing and buyer's broker. How much does the listing broker receive?
- A Mississippi investor buys a property for $150,000, spends $25,000 on improvements, and sells for $210,000 after paying 6% commission and $2,500 in closing costs. The net profit is:
- A Mississippi land developer buys 50 acres at $8,000/acre and plans to subdivide into 1/4-acre lots. After losing 20% to roads, utilities, and green space, how many lots are available to sell?
- A Mississippi seller wants to net $180,000 after paying off a $95,000 mortgage and a 5% commission. The minimum selling price required is approximately:
- A Mississippi homeowner has a home worth $300,000 with a $175,000 mortgage balance. Their equity is:
- A Mississippi buyer makes an offer of $215,000 on a property listed for $229,900. The offer represents what percentage of the list price (rounded to nearest whole percent)?
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →