Real Estate Math
A Tennessee landlord raises rent by 8% annually. If current rent is $950/month, what will the rent be after 2 years?
A$1,026
B$1,052.86
C$1,108.08✓ Correct
D$1,083
Explanation
Year 1: $950 × 1.08 = $1,026.
Related Tennessee Real Estate Math Questions
- A Tennessee buyer purchases a home for $315,000 with a 10% down payment. The lender charges 0.5% origination fee. What is the origination fee amount?
- An apartment building has 10 units all renting at $950/month. The vacancy rate is 8%. Annual operating expenses are $45,000. What is the NOI?
- A seller's home sold for $315,000. The listing brokerage receives 3.2% and the selling brokerage receives 2.8%. How much does the selling brokerage receive?
- A property generates monthly rent of $2,500. The broker manages it for 8% of collected rents. What is the annual management fee?
- What is the commission earned if a property sells for $425,000 at a 5.5% commission rate, and the listing brokerage and selling brokerage split it 50/50?
- A property's assessed value is $180,000 and the tax rate is $2.50 per $100 of assessed value. What are the annual property taxes?
- A duplex has two units each renting for $800/month. Annual operating expenses are $7,200. What is the annual NOI?
- An investor owns a 20-unit apartment complex. Average rent per unit is $950/month. The vacancy rate is 6%. Annual operating expenses are $78,000. At a cap rate of 8.5%, what is the property value?
Practice More Tennessee Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Tennessee Quiz →