Chapter 18 - Real Estate Math

Question 1

The measurements of a lot, in feet, appear in the drawing below. What is the area of this lot in acres?

Answer 1

0.66

268-154=114

114/2 =57

(154+57)*136=28,696

28,696/(66*660)=.659

Question 2

A rectangular lot has 128 feet frontage on a commercial highway and runs back 342 feet deep. It sold for $250,000. What did it sell for per square foot?

Answer 2

$5.71

250000 / (128 * 342)

Question 3

A rectangular lot contains 2.34 acres. It has a frontage of 379.22 feet. What is its depth?

Answer 3

268.79

(2.34*66*660) / 379.22

Question 4

Two years ago, you bought a property for $375,000. Values increased in that area by 8% the first year and 6% the second year. How much is your property worth today?

Answer 4

$429,300

(375000 * 1.08) * 1.06