Real Estate Math
A new home costs $350,000 to build. The land is worth $60,000. The structure has 20% accrued depreciation. What is the estimated value using the cost approach?
A$338,000
B$340,000✓ Correct
C$350,000
D$360,000
Explanation
Depreciated structure = $350,000 × (1 − 0.20) = $350,000 × 0.
Related Nebraska Real Estate Math Questions
- A Nebraska buyer obtains a 30-year, $220,000 mortgage at 6.75%. If the monthly P&I payment is $1,427, approximately how much interest is paid over the life of the loan?
- A buyer obtains a $180,000 mortgage at 6.5% interest. What is the first month's interest payment?
- A property is purchased for $185,000. The buyer finances 80% with a mortgage. What is the down payment?
- A Nebraska seller owes $182,500 on their mortgage and the property sells for $325,000 with a 6% commission and $4,800 in closing costs. How much does the seller receive after paying off the mortgage, commission, and closing costs?
- A property's closing is on October 15. Annual property taxes of $3,600 are paid in arrears by the seller. How much will the seller be debited at closing for the tax proration (using a 360-day year)?
- A Nebraska property is assessed at 90% of its $350,000 market value. The mill rate is 21 mills. What is the quarterly tax payment?
- A property sells for $385,000. The county transfer recording fee is $10 per $1,000 of value. What is the recording fee?
- A seller nets $215,000 after a 5% commission and $4,100 in closing costs. What was the sale price?
Practice More Nebraska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nebraska Quiz →