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23 Cards in this Set
- Front
- Back
- 3rd side (hint)
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1 acres |
43560 |
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Area of rectangle |
Length x width |
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Area of triangle |
1/2 base x height |
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Amount of tax on real property |
Ad valorum taxes = assessed value x tax rate |
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Excise tax formula |
$1 for every $500 round up to whole dollar |
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NOI (net operating income) |
NOI = value x cap rate |
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Market value |
Market value = gross rent x gross rent multiplier |
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Profit/loss |
Amount of profit/loss = base price x rate of profit/loss |
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Appreciation/depreciation |
Base price x rate of a/d. Appreciation is always over 💯% |
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Comission |
Comission= sales price x rate of comission Sales price = comission ÷ tax rate Rate if comission = comission ÷ sales price |
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Seller net formula |
Amt received=base x rate % |
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Adjusted tax basis |
Sales price + capital improvements + cost of special assessment |
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Amount realized |
Gross sales price - brokerage fee - any allowable closing expense |
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Capital tax gain rate |
Single - $250k profit exempt for primary residence. Married - $500k profit exempt for primary residence Short term capital gain - ordinary income tax rate. Long term capital gains - 15% |
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Interest |
Principal rate / 360 |
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Change square footage into acreage |
Divide by 43560 |
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Value/cost per measurement |
Divide $ by unit measurement $17200/3.5acres= $491.43 per acre |
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Taxes |
Annual tax = assessed value x tax rate Assessed value = annual taxes ÷ tax rate Tax rate = annual taxes ÷ assessed value |
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Principal and interest |
Annual interest = principal x rate Principal = annual interest÷ rate Rate = annual taxes ÷ assessed value |
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Monthly payment PITI |
Loan amount ÷ 1000 PI= the number of 1000s x loan factor TI = annual taxes + annual insurance ÷ 12 |
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To armortize a loan ( debt reduction) |
Annual interest = principal x rate Monthly interest = annual interest ÷ 12 Monthly principal = monthly PI payment - monthly interest New loan amount after one payment = debt - monthly principal |
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Total interest paid over the life of a loan |
Total PI payback = monthly PI payment x total number of payments Total interest paid = total PI payback - original principal |
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Percent of equity increase |
Increase in equity = new (present) equity - original (old) equity Percent of equity increase = increase in equity ÷ old (original) equity |
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