Real Estate Math
A Salt Lake City property has an assessed value of $550,000. Utah assesses at 55% of market value. What is the estimated market value?
A$302,500
B$550,000
C$1,000,000✓ Correct
D$880,000
Explanation
Market Value = Assessed Value / Assessment Rate = $550,000 / 0.55 = $1,000,000. Since Utah assesses at 55% of market value, dividing the assessed value by 0.55 gives the estimated market value.
Related Utah Real Estate Math Questions
- An investor purchases a property for $500,000 with a 25% down payment. What is the loan amount?
- A Utah commercial building has a net leasable area of 12,000 sq ft at $22/sq ft/year. What is the annual rent income?
- A Utah seller owes $210,000 on their mortgage. Their property sells for $340,000. After paying a 6% commission and $4,500 in other costs, what are the seller's net proceeds?
- A Utah property has an NOI of $30,000 and a cap rate of 6%. What is the indicated value?
- A buyer wants to borrow the maximum amount with a 28% front-end DTI ratio. Their gross monthly income is $7,500. What is the maximum monthly housing payment allowed?
- A Utah triplex generates $3,600/month in gross rents. Annual operating expenses are $15,000 with 5% vacancy. What is the annual NOI?
- A Utah broker charges a $500 transaction fee on every closed deal in addition to the commission percentage. In a month with 12 closings, how much is collected in transaction fees?
- A Utah investor buys a duplex for $400,000. Each unit rents for $1,200/month. What is the gross rent multiplier (GRM)?
Practice More Utah Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Utah Quiz →