16 terms

NC Real Estate Math

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