Real Estate Math
A property's assessed value is $180,000 and is assessed at 85% of market value. What is the estimated market value?
A$153,000
B$195,000
C$180,000✓ Correct
D$220,000
Explanation
Market Value = Assessed Value ÷ Assessment Ratio = $180,000 ÷ 0.85 ≈ $211,765. To solve this, multiply the relevant values: $180,000 at 85%.. The correct answer is $180,000.. This is a common calculation on the New Hampshire real estate exam.
Related New Hampshire Real Estate Math Questions
- A NH property has 120 feet of frontage on a lake. Similar lakefront properties sell at a premium of $1,200 per linear foot of frontage over inland properties. What additional value does the lake frontage represent?
- A NH investor purchases a small office building for $750,000 with 30% down. The bank requires a minimum DSCR of 1.20. If annual debt service is $42,000, what minimum NOI must the property generate?
- A NH income property has a 92% occupancy rate and 60 total units renting at $950/month. What is the effective gross monthly income?
- A NH seller's listing price is $459,000. After negotiation, the final sale price is $448,000. What percentage of the list price did the property sell for?
- An investor buys a NH rental property for $180,000. Annual NOI is $14,400. What is the cap rate?
- A NH buyer puts 20% down on a $425,000 home and finances the balance. What is the loan-to-value ratio?
- A NH property had a listing price of $289,000. It sold for $275,500. What is the sale-to-list ratio?
- A NH agent earns a 3% buyer's agent commission on a $415,000 sale. The agent's brokerage retains 30% and the agent keeps 70%. How much does the agent earn?
Practice More New Hampshire Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Hampshire Quiz →