Real Estate Math
A West Virginia property's assessed value is $90,000 (at 60% of market value). What is the estimated market value?
A$54,000
B$150,000✓ Correct
C$144,000
D$108,000
Explanation
Market value = Assessed value / 0.60 = $90,000 / 0.
Related West Virginia Real Estate Math Questions
- A Morgantown, WV broker charges a 6% commission on a $320,000 sale. The commission is split 50/50 with the cooperating broker. The listing salesperson receives 40% of the listing broker's share. How much does the listing salesperson 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 buyer takes out a $200,000 mortgage at 7% annual interest with a monthly payment of $1,331. How much of the first month's payment goes to principal?
- A West Virginia property is purchased for $180,000 with a 10% down payment. What is the loan amount?
- A West Virginia property has an assessed value of $90,000 and a tax rate of 80 mills. What is the annual property tax? (1 mill = $0.001 per $1 of assessed value)
- A West Virginia property sold for $195,000. The seller paid 3% in selling agent commission and 3% in buyer's agent commission. The seller also paid $2,500 in closing costs. What was the seller's total cost of sale?
- A West Virginia investor purchases a small rental property for $120,000 and receives $950 per month in rent. What is the gross rent multiplier (GRM)?
- A Morgantown investment property has a GRM of 10 and generates $24,000 in annual gross rent. What is the estimated property 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 →