Real Estate Math
A one-section (640 acres) parcel of land in western Oklahoma is worth $850/acre. What is the total value?
A$544,000✓ Correct
B$640,000
C$680,000
D$710,000
Explanation
Total value = 640 acres x $850/acre = $544,000. Using the values given ($850), apply the appropriate formula..
Related Oklahoma Real Estate Math Questions
- A property has a potential gross income of $60,000, vacancy loss of 7%, and operating expenses of $20,000. What is the NOI?
- A commercial property leases 4,000 square feet at $18 per square foot per year on a net basis. What is the annual base rent?
- An investor buys a rental home for $180,000. After one year, appreciation has increased the value by 4%. What is the new value?
- A salesperson earned $11,250 in commission. If this represents a 3% commission rate, what was the sales price?
- An Oklahoma property's sale price is $388,000. The seller pays the buyer 2% of the sale price in closing cost concessions. How much are the concessions?
- A property is assessed at 11% of its market value of $400,000. The mill rate is 85 mills. What is the annual property tax?
- A seller in Oklahoma accepts an offer for $245,000. The buyer's earnest money is 1% of the purchase price. How much is the earnest money?
- A commercial building has 10,000 rentable square feet leased at $15 per square foot per year. What is the annual gross rent?
Practice More Oklahoma Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oklahoma Quiz →