Real Estate Math
A West Virginia property owner earns $14,400 per year from a rental property. The gross rent multiplier in the area is 8. What is the estimated value using GRM?
A$115,200✓ Correct
B$120,000
C$144,000
D$100,800
Explanation
Value = GRM x Annual Gross Rent = 8 x $14,400 = $115,200. Using the values given ($14,400), apply the appropriate formula..
Related West Virginia Real Estate Math Questions
- A West Virginia buyer closes on a $210,000 home on April 15. Annual property taxes of $2,520 have not yet been paid. Using a 360-day year, what is the seller's prorated tax credit to the buyer?
- A West Virginia commercial property sells for $480,000. The excise tax is $1.10 per $500. What is the total excise tax due?
- A West Virginia property has an annual property tax bill of $2,400. The buyer closes on July 1 (mid-year). How much of the property taxes will the seller owe at closing as a prorated credit to the buyer? (Assume 365-day year and taxes paid in arrears)
- A West Virginia buyer makes a $5,000 earnest money deposit on a $185,000 home. The buyer obtains an 80% conventional loan. How much additional cash must the buyer bring to closing (excluding closing costs)?
- A West Virginia home was purchased for $140,000 and sold 5 years later for $175,000. What was the total appreciation percentage?
- A West Virginia property is appraised at $175,000. The buyer obtains an 80% LTV loan. What is the loan amount?
- A West Virginia contractor charges $85 per square foot to renovate a 1,200 square foot home. What is the total renovation cost?
- A West Virginia investor seeks a 10% return on investment from a property with an NOI of $25,000. What is the maximum price to pay?
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 →