Real Estate Math
A South Carolina property is listed at $249,900. After 60 days with no offers, the seller reduces the price by 4%. What is the new list price?
A$239,900
B$240,004
C$239,904✓ Correct
D$245,900
Explanation
Reduction = $249,900 × 4% = $9,996. New price = $249,900 − $9,996 = $239,904. To solve this, multiply the relevant values: $249,900 at 4%.. The correct answer is $239,904.. This is a common calculation on the South Carolina real estate exam.
Related South Carolina Real Estate Math Questions
- A South Carolina investor uses leverage (80% mortgage) to buy a $500,000 property. If the property appreciates 5%, what is the return on invested equity?
- A South Carolina owner received $187,500 net after paying a 6.25% commission. What was the sale price?
- A South Carolina rental property has a potential gross income of $60,000/year and a 5% vacancy rate. What is the effective gross income?
- A South Carolina buyer makes a 20% down payment on a $310,000 home. What is their loan amount?
- An investment property in Columbia, SC was purchased for $350,000 and sold for $420,000 after 3 years. What was the total return on investment (ROI)?
- A Charleston property appraised at $340,000 has an assessment ratio of 4% and a millage rate of 200 mills. What is the annual property tax?
- A 40-acre parcel in South Carolina is offered for $3,500 per acre. What is the total asking price?
- A South Carolina property has a gross annual rent of $36,000 and sells for $450,000. What is the gross rent multiplier (GRM)?
Practice More South Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Carolina Quiz →