Real Estate Math
A Virginia rental property generates $2,400/month. Annual expenses are $10,000. If the property sells for 12 times annual NOI, what is the sale price?
A$225,600✓ Correct
B$250,000
C$288,000
D$310,000
Explanation
Annual gross income = $2,400 × 12 = $28,800. Annual NOI = $28,800 – $10,000 = $18,800.
Related Virginia Real Estate Math Questions
- A Virginia land parcel is one mile by one mile. How many acres does it contain?
- A Virginia property has 2,500 sq ft of living space. At $185 per sq ft, what is the estimated value?
- A Virginia property has an assessed value of $320,000 with an assessment ratio of 100% and a tax rate of $0.87 per $100. What are the annual property taxes?
- A Virginia rental property's gross scheduled income is $60,000. Vacancy is 5% and operating expenses are $22,000. What is the Net Operating Income?
- A Virginia commercial building has 15,000 sq ft with 12,000 sq ft occupied. What is the occupancy rate?
- A Virginia agent earns a 6% commission on a $475,000 sale. The agent's broker keeps 30% of the office commission share. How much does the agent receive if they split 50/50 with the buyer's broker?
- A Virginia property has an annual NOI of $42,000 and the local cap rate is 7%. What is the property's estimated value using the income approach?
- A Virginia commercial property's NOI is $75,000 and the value is $1,000,000. If the NOI increases to $85,000 with the same cap rate, what is the new value?
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →