Real Estate Math
A Seattle investment property is purchased for $1,200,000 with 25% down. What is the equity at purchase?
A$240,000
B$300,000✓ Correct
C$360,000
D$400,000
Explanation
Down payment (equity at purchase) = $1,200,000 × 25% = $300,000. At purchase, equity equals the down payment assuming the property was purchased at market value.
Related Washington Real Estate Math Questions
- A Washington commercial lease has a base rent of $15.50/SF/year. With an expense stop of $8/SF, the tenant pays operating expenses above the stop. If actual expenses are $11.50/SF, how much does the tenant pay in total per SF per year?
- A Washington buyer pays $522,500 for a home. The county assesses the property at 90% of purchase price for tax purposes. The millage rate is 12 mills. What is the annual property tax?
- A Washington rental property has a monthly gross rent of $3,200 and annual operating expenses of $14,400. What is the annual net operating income (NOI)?
- A buyer in Washington purchases a home for $480,000 with a 15% down payment. What is the loan amount?
- A Washington home sells for $540,000 with 5% commission split 50/50. Each broker receives:
- A Washington property management company earns 8% of collected rents. In January, they collected $48,000. What is January's management fee?
- A Washington property appreciated 5% per year for 3 years from an original value of $400,000. What is the value after 3 years?
- A Washington homeowner wants to net $500,000 after paying a 5.5% commission. What must the home sell for?
Practice More Washington Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Washington Quiz →