Real Estate Math
A Bismarck broker manages a portfolio of 20 properties averaging $1,200/month in rent each. The management fee is 8%. What is the monthly management income?
A$1,440
B$1,680
C$1,920✓ Correct
D$2,160
Explanation
Total monthly rent = 20 properties × $1,200 = $24,000. Management fee = $24,000 × 8% = $1,920. To solve this, multiply the relevant values: $1,200 at 8%.. The correct answer is $1,920.. This is a common calculation on the North Dakota real estate exam.
Related North Dakota Real Estate Math Questions
- A North Dakota buyer takes a $220,000 mortgage at 6.5% interest. The first month's interest portion of the payment is:
- A property's NOI is $28,800 per year. The capitalization rate is 8%. What is the estimated value using the income approach?
- An investor purchases a 6-unit apartment building for $480,000. Monthly rent per unit is $700. What is the annual gross rent multiplier (GRM)?
- A property generates monthly rental income of $3,200. Annual operating expenses are $12,500. What is the annual NOI?
- A North Dakota property sells for $425,000. The buyer makes a 20% down payment. How much does the buyer borrow?
- A broker receives a 6% commission on a $190,000 sale. The broker splits this 60/40 with the selling agent. How much does the selling agent receive?
- A property was purchased for $200,000 and sold 3 years later for $236,000. What was the percentage appreciation?
- A North Dakota investor finances $500,000 of a $625,000 property. What is the equity percentage at purchase?
Practice More North Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Dakota Quiz →