Real Estate Math
A NC property taxes are paid in arrears. The annual tax is $5,110 and closing occurs September 30. What is the seller's share of taxes (Jan 1 through Sept 30 = 273 days)?
A$3,822✓ Correct
B$3,825
C$3,830
D$3,850
Explanation
Daily rate = $5,110 / 365 = $14.00/day.
Related North Carolina Real Estate Math Questions
- A property generates annual net income of $36,000 and is purchased for $450,000. What is the overall (cap) rate?
- A NC investor's property generates $2,800/month in rent with a 5% vacancy rate and $9,500/year in operating expenses. The annual NOI is:
- A property is assessed at 80% of its $350,000 market value. The tax rate is $1.20 per $100 of assessed value. What are the annual taxes?
- A rectangular lot measures 150 feet wide by 200 feet deep. What is the lot size in square feet?
- A commercial property in NC generates annual NOI of $120,000. Similar properties sell at a 6.5% cap rate. What is the estimated market value?
- A home was purchased for $180,000 and sold for $234,000. What was the percentage appreciation?
- A property with an NOI of $93,600 and a cap rate of 7.8% has an estimated value of:
- An investor in NC buys an office building for $1,200,000 with a 25% down payment. The mortgage loan amount is:
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 →