Real Estate Math
A property was purchased for $300,000. After 3 years it is worth $363,000. What is the total percentage appreciation?
A18%
B21%✓ Correct
C22%
D24%
Explanation
Total appreciation = ($363,000 - $300,000) / $300,000 = $63,000 / $300,000 = 0.21 = 21%.
Related New York Real Estate Math Questions
- A property's assessed value is $250,000 and the tax rate is 2.5%. What is the annual property tax?
- 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?
- A New York property is assessed at $225,000 and qualifies for a STAR exemption of $30,000. If the school tax rate is $18 per $1,000, the annual school tax after STAR is:
- A New York investor sells a property for $980,000. After paying a 5% commission and $18,000 in closing costs, what are the net proceeds?
- An investor purchases a property for $1,200,000. Annual NOI is $90,000. What is the cap rate?
- A buyer in New York City purchases a co-op for $1,500,000. The mansion tax rate on this purchase is 1.25%. How much mansion tax must the buyer pay?
- A property was assessed at $240,000 and the mill rate is 15 mills. The property tax is:
- A new building in Brooklyn has 20 units. 16 are rented at $2,200/month and 4 are vacant. Annual operating expenses are $110,000. What is the annual NOI?
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 →