Real Estate Math
A 1,500 sq ft apartment in Manhattan rents for $85 per sq ft per year. The monthly rent is:
A$10,625✓ Correct
B$127,500
C$8,500
D$6,375
Explanation
Annual rent = 1,500 × $85 = $127,500. Monthly rent = $127,500 ÷ 12 = $10,625.
Related New York Real Estate Math Questions
- A mortgage of $410,000 at 5.5% annually. The first month's interest is:
- A New York building has a net operating income of $216,000. An appraiser determines the cap rate is 7.2%. What is the estimated market value?
- A commercial building in Manhattan has 10,000 sq ft of rentable space leased at $50/sq ft/year. Annual operating expenses are $175,000. What is the annual NOI?
- A co-op in Manhattan sells for $1,750,000. The NYC mansion tax at 1.25% applies for sales between $1.5M and $2M. What is the mansion tax?
- A rectangular lot is 100 feet wide and 250 feet deep. How many acres is the lot? (1 acre = 43,560 sq ft)
- Using the T-bar (Income/Rate/Value), if a property's NOI is $72,000 and its value is $900,000, what is the cap rate?
- A property in Westchester is purchased for $620,000 with a 20% down payment. The loan amount is:
- A buyer purchases a property for $450,000 with a 10% down payment. The lender charges 2 discount points. How much are the discount points in dollars?
Practice More New York Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New York Quiz →