Real Estate Math
A South Carolina property with 3,500 sq ft sells for $125/sq ft. What is the sale price?
A$375,000
B$412,500
C$437,500✓ Correct
D$450,000
Explanation
Sale price = 3,500 sq ft × $125/sq ft = $437,500. Using the values given ($125), apply the appropriate formula..
Related South Carolina Real Estate Math Questions
- A buyer's monthly gross income is $6,500. Using a 36% back-end debt-to-income ratio, and the buyer already has $500/month in recurring debts, what is the maximum monthly mortgage payment (PITI) the lender will allow?
- A buyer must qualify for a $275,000 mortgage. The lender requires a 28% front-end ratio. What monthly gross income is needed?
- A South Carolina property owner wants to net $250,000 after paying a 6% commission. What must the property sell for?
- A South Carolina investor wants a 9% cap rate on a property with annual NOI of $36,000. What is the maximum price they should pay?
- A South Carolina investment property generates monthly rent of $2,400. Annual operating expenses are $8,640. What is the annual net operating income (NOI)?
- A rental property in South Carolina has a potential gross income of $45,000/year. With a 6% vacancy and $16,200 operating expenses, what is the NOI?
- A South Carolina investor purchases a duplex for $180,000. Annual gross rent is $21,600. What is the gross rent multiplier (GRM)?
- A South Carolina buyer obtains a $260,000 loan at 7% interest. What is the first month's interest payment?
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 →