Real Estate Math
A Rhode Island property has a potential gross income of $110,000. After a 7% vacancy rate and a 5% credit loss, what is the effective gross income?
A$96,800
B$97,020✓ Correct
C$99,000
D$101,200
Explanation
Vacancy loss: $110,000 x 0.07 = $7,700.
Related Rhode Island Real Estate Math Questions
- A Rhode Island commercial property generates $90,000 NOI and sold at a 7.5% cap rate. What was the approximate sale price?
- A Rhode Island seller nets $320,000 after a 5.5% commission. What was the original sale price?
- A Rhode Island commercial property has a 7% cap rate and generates $105,000 in annual NOI. What is the property's value?
- A buyer's annual income is $90,000. Under conventional lending guidelines (28% front-end ratio), what is the maximum monthly housing payment (PITI)?
- A Rhode Island property has a market value of $280,000 and is assessed at 100% of market value. The tax rate is $14.50 per $1,000 of assessed value. What is the annual property tax?
- A Rhode Island investor wants a 10% return on a $500,000 investment. What annual NOI must the property generate?
- A home is listed for $260,000 and sells for $248,000. The total commission is 6%, split 50/50 between listing and buyer's broker. If the listing agent earns 55% of their broker's half, what does the listing agent earn?
- A property has a market value of $450,000 and is assessed at 80% of market value. The tax rate is $12.50 per $1,000. What is the annual property tax?
Practice More Rhode Island Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Rhode Island Quiz →