Real Estate Math
A NJ seller paid $375,000 for their home 8 years ago. Annual appreciation averaged 4%. What is the approximate current value?
A$375,000✓ Correct
B$492,000
C$480,000
D$550,000
Explanation
Future value = $375,000 × (1.04)^8 = $375,000 × 1.
Related New Jersey Real Estate Math Questions
- A NJ buyer obtains a mortgage for $340,000 at 7% annual interest. What is the first month's interest payment?
- A NJ property is assessed at $280,000, and the tax rate is $2.50 per $100 of assessed value. What are the annual property taxes?
- A seller nets $342,000 after paying a 6% commission. What was the sale price?
- A NJ property owner wants a net of $400,000 after paying a 5% broker commission. At what price must the property sell?
- A property generates a monthly gross income of $3,500 and has a vacancy and collection loss rate of 5%. Annual operating expenses are $14,400. What is the annual net operating income (NOI)?
- A seller wants to net $290,000 after paying a 6% brokerage commission and $4,500 in closing costs. What must the property sell for?
- A broker earns a 5.5% commission on a $380,000 sale. What is the total commission?
- A NJ apartment building has an effective gross income of $240,000 and an operating expense ratio (OER) of 45%. What is the NOI?
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 →