Real Estate Math
A Nevada property has an asking price of $650,000. The buyer offers $615,000. What is the difference as a percentage of asking price?
A4.8%
B5.4%✓ Correct
C5.0%
D5.7%
Explanation
Difference = $650,000 – $615,000 = $35,000. Percentage = $35,000 / $650,000 = 0.0538 = 5.4%. Using the values given ($650,000, $615,000), apply the appropriate formula.. The correct answer is 5.4%.. This is a common calculation on the Nevada real estate exam.
Related Nevada Real Estate Math Questions
- A Nevada investor owns a 12-unit apartment complex. Each unit rents for $1,100/month. The vacancy rate is 8% and annual expenses are $52,000. What is the NOI?
- A Nevada buyer closes on a $350,000 home on March 15. Annual property taxes are $4,200 (paid in arrears). The seller owes taxes from Jan 1 to March 15. How many days does the seller owe? (Use 30-day months)
- A Nevada buyer wants a maximum monthly payment of $1,800 for P&I. Using a factor of $6.00 per $1,000 (30-yr, 6%), what is the maximum loan amount?
- A Nevada seller nets $315,000 after paying a 6% commission. What was the sale price?
- A Nevada commercial property generates annual gross income of $180,000, has vacancy and collection losses of 5%, and operating expenses of $60,000. What is the Net Operating Income (NOI)?
- A Nevada investment property has a potential gross income of $120,000, vacancy of 8%, and operating expenses of $45,000. What is the expense ratio?
- A Nevada buyer finances $320,000 at 6.5% for 30 years. After 5 years, the balance is approximately $300,000. What is the equity if the home is now worth $380,000?
- If a Nevada property's NOI increased from $60,000 to $66,000 and the cap rate remained at 6%, by how much did the property value increase?
Practice More Nevada Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nevada Quiz →