Real Estate Math
A West Virginia property's assessed value is $112,500 at 75% of market value. What is the estimated market value?
A$140,000
B$150,000✓ Correct
C$160,000
D$175,000
Explanation
Market value = Assessed value ÷ Assessment ratio = $112,500 ÷ 0.75 = $150,000. To solve this, multiply the relevant values: $112,500 at 75%.. The correct answer is $150,000.. This is a common calculation on the West Virginia real estate exam.
Related West Virginia Real Estate Math Questions
- A rectangular parcel in West Virginia measures 300 feet × 400 feet. How many acres is this? (1 acre = 43,560 sq ft)
- 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 property is appraised at $175,000. The buyer obtains an 80% LTV loan. What is the loan amount?
- A West Virginia tenant signs a 2-year commercial lease for $1,800/month with a 3% annual rent increase at the end of year 1. What will the monthly rent be in year 2?
- A West Virginia buyer obtains a $150,000 mortgage at 7% annual interest. What is the monthly interest portion for the first payment?
- A West Virginia property has a monthly gross rent of $2,200 and operating expenses totaling $850 per month. What is the annual NOI?
- 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?
- A Charleston, WV property is assessed at $120,000 by the county assessor. The assessment ratio is 60% of market value. What is the estimated market 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 →