Real Estate Math
A West Virginia investor buys a foreclosed property for $85,000, spends $35,000 on repairs, and sells it for $155,000. Ignoring closing costs, what is the gross profit?
A$35,000✓ Correct
B$70,000
C$45,000
D$55,000
Explanation
Total cost = $85,000 + $35,000 = $120,000. Gross profit = $155,000 - $120,000 = $35,000.
Related West Virginia Real Estate Math Questions
- A West Virginia property management company charges 8% of gross rents collected. A building produces $3,500 per month in rent. What is the monthly management fee?
- A Charleston, WV homeowner refinances their $200,000 mortgage. The lender charges 1.5 points and a $1,200 origination fee. What are the total upfront costs for these two items?
- A West Virginia home sells for $185,000. The commission rate is 6%, split 50/50 between the listing and buyer's broker. The listing agent receives 70% of the listing broker's share. How much does the listing agent earn?
- A West Virginia seller's home was appraised at $180,000 and listed for $189,900. The buyer's offer of $183,000 is accepted. The transfer tax the seller owes is:
- A West Virginia investor buys a property for $150,000 and sells it three years later for $195,000. What is the percentage gain on the investment?
- A West Virginia property has an assessed value of $150,000 and a tax rate of $12.50 per $1,000 of assessed value. What is the annual property tax?
- A West Virginia duplex generates $1,400/month from each unit. Using a cap rate of 8%, what is the estimated value?
- A West Virginia property sold for $195,000, which was 3% more than its appraised value. What was the appraised value?
Practice More West Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free West Virginia Quiz →