Real Estate Math
A Tennessee recordation tax is $0.37 per $100 of consideration. How much tax is due on a property that sold for $180,000?
A$666✓ Correct
B$370
C$1,110
D$740
Explanation
$180,000 ÷ $100 = 1,800. Tax = 1,800 × $0.
Related Tennessee Real Estate Math Questions
- A Tennessee commercial lease has a base rent of $2,500/month plus 3% of annual gross sales over $500,000. If annual gross sales are $800,000, what is the total annual rent?
- A Tennessee commercial property has effective gross income of $120,000 and operating expenses of $48,000. If a buyer requires a 9% cap rate, what should the buyer pay?
- A Tennessee rental property generates $22,800 annual gross income. Operating expenses are 42% of gross income. What is the annual NOI?
- An investor wants a 10% cash-on-cash return. They invest $85,000 in down payment and closing costs. The property's annual NOI is $22,000 and the annual mortgage payment is $13,600. What is the cash-on-cash return?
- A Nashville condominium has monthly HOA dues of $325. The buyer wants to know the annual cost. What is the total annual HOA expense?
- A Tennessee buyer's gross monthly income is $7,200. Using a 43% back-end DTI limit, what is the maximum total monthly debt payment allowed?
- A Tennessee property appraises for $295,000. The buyer can borrow up to 80% LTV. How much must the buyer pay as a down payment?
- A property manager charges 8% of monthly rent for management. If rent is $1,450/month and the property is occupied all 12 months, how much does the manager earn annually?
Practice More Tennessee Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Tennessee Quiz →