Real Estate Math
A Wyoming commercial property has a net operating income of $72,000 per year. Using a cap rate of 8%, what is the estimated value of the property?
A$576,000
B$900,000✓ Correct
C$5,760,000
D$720,000
Explanation
Value = NOI ÷ Cap Rate = $72,000 ÷ 0.08 = $900,000.
Related Wyoming Real Estate Math Questions
- A Wyoming lender charges 1.5% loan origination fee on a $240,000 mortgage. What is the origination fee?
- A Wyoming buyer takes out a $250,000 mortgage at 7.5% annual interest. What is the total interest charged in the first year (approximation using simple interest)?
- A Wyoming investor purchased a rental home for $175,000 and made $25,000 in improvements. They sell the property for $265,000 and pay a 5% commission. What is the gain before taxes?
- A buyer in Cheyenne purchased a home for $275,000 with a 10% down payment. What is the loan amount?
- A Wyoming property has a market value of $500,000. It is assessed at 9.5% of market value. The mill rate is 60 mills. What is the annual property tax?
- A Wyoming buyer obtains a 30-year fixed mortgage for $175,000 at 6.5% annual interest. Using the factor of $6.32 per $1,000 borrowed, what is the approximate monthly principal and interest payment?
- A Wyoming property is 40 acres. How many square feet is this?
- A Wyoming real estate transaction closes on July 10. The annual property tax of $3,600 has NOT been paid. Using a 365-day year, how much does the seller owe the buyer in property tax proration?
Practice More Wyoming Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wyoming Quiz →