Real Estate Math
A property has 200 front feet and 150 feet of depth. Using front footage pricing of $400 per front foot, what is the estimated land value?
A$60,000
B$80,000✓ Correct
C$90,000
D$120,000
Explanation
Front footage pricing uses only the front feet: 200 front feet × $400/front foot = $80,000. Depth is not factored in with simple front footage pricing (though depth tables can be used for more precise valuation).
Related North Carolina Real Estate Math Questions
- A NC investor buys a rental property for $240,000 and receives $1,600/month rent. The annual gross rent multiplier (GRM) is:
- A property generates annual net income of $36,000 and is purchased for $450,000. What is the overall (cap) rate?
- A buyer purchases a home in Chapel Hill for $550,000 with a 20% down payment. How much is the down payment?
- A listing broker receives a 6% commission on the sale of a $350,000 home. The listing broker splits the commission 50/50 with the selling broker. How much does the listing broker receive?
- A seller nets $270,000 after paying a 6% commission. What was the sale price?
- A property has an annual NOI of $36,000 and a cap rate of 7.5%. What is its estimated value?
- A home was purchased for $180,000 and sold for $234,000. What was the percentage appreciation?
- A property in Charlotte sells for $620,000. The listing firm (representing the seller) earns a total 5% commission. The co-op split is 50/50 between listing and selling firms. Each firm earns:
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 →