NC Real Estate Math

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my personal flash cards to study math for the NC real estate license exam

1 acre

43,560 square feet

area of rectangle

length * width

area of triangle

1/2 base * height

amount of tax on real property

amt of ad valorum taxes = assessed value * tax rate

excise tax formula

$1 for every $500 of purchase price; rounded up if there are cents; always a whole dollar amount

NOI

Net Operating Income NOI = value * cap rate

market value

market value = gross rent * gross rent multiplier

profit/loss

amt of profit/loss = base price * rate of profit/loss

appreciation/depreciation

amt of appreciation/depreciation = base price * rate of appreciation/depreciation; appreciation value is always over 100%

commission

amt received = sales price x rate of commission

seller net formula

amt received = base x rate %

adjusted tax basis

sales price + capital improvements + cost of special assessments

amount realized

gross sales price - brokerage fee - any allowable closing expenses

capital tax gain rates

single taxpayer - $250,000 profit exempt for primary residence
married couple - $500,000 profit exempt for primary residence
short-term capital gains - ordinary income tax rate
long-term capital gains - 15%

interest

principal rate / 360 number of days

discount point

each point paid on a 30-yr loan increases the yield by about 1/8%

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