A duplex sold for $420,000. What is the indicated price per unit?
Correct Answer
B) $210,000
Why this is correct: price per unit divides the sale price by the number of dwelling units. Calculation: $420,000 ÷ 2 = $210,000. Why the other choices are wrong: $105,000 and $140,000 divide by four and by three, neither of which is the number of units in a duplex; $420,000 is the sale price itself, which is the price per property rather than per unit.
Why This Is the Correct Answer
Why this is correct: price per unit divides the sale price by the number of dwelling units. Calculation: $420,000 ÷ 2 = $210,000. Why the other choices are wrong: $105,000 and $140,000 divide by four and by three, neither of which is the number of units in a duplex; $420,000 is the sale price itself, which is the price per property rather than per unit.
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Two comparables carry identical houses on different lots. One sits on 8,000 square feet and sold for $310,000; the other sits on 10,000 square feet and sold for $322,000. What rate per square foot of land does the pair indicate?