Real Estate Math
A commercial space in Charlotte is leased at $28 per square foot annually for 4,500 sq ft. The monthly rent is:
A$9,500
B$10,500✓ Correct
C$12,600
D$7,000
Explanation
Annual rent = 4,500 sq ft x $28 = $126,000. Monthly rent = $126,000 / 12 = $10,500.
People Also Study
Related North Carolina Questions
- Annual rent on a commercial lease is $24 per square foot. The space is 2,500 square feet. What is the monthly rent?Real Estate Math
- An NC commercial lease is $22 per square foot NNN for 3,200 sq ft. Annual base rent is:Real Estate Math
- How many hours of pre-license education are required to sit for the North Carolina broker license exam?North Carolina License Law
- How many questions are on the North Carolina real estate broker licensing exam?North Carolina License Law
- What is the minimum passing score on the North Carolina real estate licensing exam?North Carolina License Law
- A North Carolina buyer's monthly payment is $1,800 and their gross monthly income is $5,400. What is their front-end (housing) ratio?Finance
- In North Carolina, which of the following is a characteristic of tenancy in common?Property Ownership
- A North Carolina property has an assessed value of $240,000. The tax rate is $1.10 per $100 of assessed value. What is the annual tax?Real Estate Math
Key Terms to Know
Gross Rent Multiplier (GRM)
A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Math Concepts
Study This Topic
Practice More North Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →