Real Estate Math
A Missouri property closes on July 15. Annual property taxes are $6,000. The seller owes taxes through closing. How much does the seller owe (using 30-day months)?
A$3,000
B$3,450
C$3,250✓ Correct
D$3,750
Explanation
Jan through Jul 15 = 6.5 months. Seller's share = $6,000 × (6.5/12) = $6,000 × 0.5417 = $3,250. Using 30-day months: 6 months + 15 days = 6.5 months. $6,000/12 × 6.5 = $3,250.
Related Missouri Real Estate Math Questions
- A Missouri rental property has potential gross income of $60,000/year with 5% vacancy. Effective gross income is:
- A buyer in Missouri makes a 5% down payment on a $310,000 home and pays 2 discount points. What is the total cost of the discount points?
- A Missouri investor purchases a duplex for $180,000 and collects $1,200/month per unit. What is the gross rent multiplier (GRM)?
- A Missouri seller nets $215,000 after paying a 6% commission. What was the gross sales price?
- A Missouri seller nets $178,500 after paying 5.5% commission and $1,200 in other costs. What was the sales price?
- A Missouri commercial building has an NOI of $48,000 and a market cap rate of 9%. The estimated value is:
- A Missouri home appreciates 3.5% annually. Current value is $200,000. What is it worth in 3 years?
- A Missouri rental property has gross monthly rents of $4,500 and annual operating expenses of $18,000. What is the annual NOI?
Practice More Missouri Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Missouri Quiz →