Real Estate Math
A NJ buyer makes a $20,000 earnest money deposit on a $500,000 home purchase. What percentage is the deposit of the purchase price?
A3%
B4%✓ Correct
C5%
D2%
Explanation
Deposit percentage = $20,000 ÷ $500,000 = 0.04 = 4%.
Related New Jersey Real Estate Math Questions
- A NJ property has a market value of $550,000 and an assessment ratio of 75%. At a tax rate of $3.20 per $100, what are the annual property taxes?
- A NJ property owner pays $4,800 in semi-annual property taxes. What is the annual property tax rate per $100 if the assessed value is $320,000?
- An investor paid $650,000 for a property that generates $78,000 in annual NOI. What is the cap rate?
- An investor buys a duplex for $350,000, collects $1,800/month from each unit, and has annual operating expenses of $18,000. What is the annual NOI?
- A property has a gross rent multiplier (GRM) of 140 and monthly gross rent of $2,800. What is the estimated value?
- A NJ property owner refinances a $300,000 mortgage at a lower rate, saving $180/month. How many months must they keep the loan to break even if the refinancing costs $3,600?
- A NJ property generates annual NOI of $45,000 after deducting operating expenses. Annual debt service (mortgage payments) is $28,000. What is the annual cash flow before taxes?
- A NJ property manager charges 8% of monthly rent for management. The property has 4 units each renting for $1,800/month. What is the annual management fee?
Practice More New Jersey Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Jersey Quiz →