Real Estate Math
A Knoxville property was purchased for $195,000 and sold 3 years later for $228,150. What is the percentage gain?
A15%
B17%✓ Correct
C20%
D22%
Explanation
Gain = $228,150 − $195,000 = $33,150. Percentage gain = $33,150 ÷ $195,000 = 17%.
Related Tennessee Real Estate Math Questions
- A Tennessee home seller paid $245,000 for a property 5 years ago and is selling it today for $312,000. What is the percentage gain over the 5-year period?
- A home is priced at $399,000. The seller reduces it by 4%. Then reduces again by 3% after 45 days. What is the final price?
- A 30-year loan of $150,000 at 6% has a monthly P&I payment of $899.33. After 10 years, approximately what percentage of each payment is principal?
- A home appreciates at 4% per year. If it is worth $280,000 today, approximately what will it be worth in 2 years?
- A Tennessee property is assessed at 25% of market value. If the market value is $320,000 and the tax rate is $4.50 per $100 of assessed value, what is the annual property tax?
- A Tennessee rental property generates $22,800 annual gross income. Operating expenses are 42% of gross income. What is the annual NOI?
- A property's gross income multiplier (GIM) is 8.5. The property has annual gross income of $60,000. What is the estimated value?
- A Tennessee buyer uses the following closing cost formula: Down payment 20% + 3% in closing costs on the loan amount. If the purchase price is $375,000, what is the total cash needed at closing?
Practice More Tennessee Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Tennessee Quiz →