Property Description & Analysis

Property zoned as R-2 typically allows for:

In the rectangular survey system, a section contains how many acres?

Which property right includes the right to receive rental income from a tenant-occupied property?

A property is located in a 100-year flood zone. This means the property has what probability of flooding in any given year?

In a metes and bounds description, the term 'metes' refers to:

Which foundation type is most susceptible to settlement and structural problems in expansive clay soil conditions?

Type I construction (fire-resistive) typically features:

A legal description reads: 'Beginning at the iron pin at the intersection of Oak Street and Main Street, thence N 45° E 150 feet to an iron pin, thence S 30° E 200 feet to an iron pin, thence S 45° W 150 feet to an iron pin on Oak Street, thence along Oak Street N 30° W 200 feet to the point of beginning.' This is an example of which type of legal description?

When appraising a tenant's interest in a property under a long-term lease with below-market rent, the appraiser is valuing which property right?

A rectangular lot measures 150 feet wide by 200 feet deep. If similar lots in the area sell for $8.50 per square foot, what is the estimated value of this lot?

Which building construction type typically provides the greatest fire resistance and structural durability?

Balloon framing, commonly used in construction from 1880 to 1930, is characterized by:

An appraiser observes that a foundation has minor settling cracks and some efflorescence on the basement walls. These conditions would most likely affect which aspect of the property's value?

A 2,500 square foot home has only one full bathroom located on the second floor, while the main living areas are on the first floor. This represents what type of problem?

A building was constructed 15 years ago but appears to be in the condition of a typical 8-year-old building due to excellent maintenance. The effective age is:

An easement that allows the electric company to maintain power lines across a property is classified as:

A property is zoned R-2 (medium density residential) but is currently being used as a single-family residence. The property is considered:

During a property inspection, an appraiser discovers asbestos-containing materials in the heating system. How should this discovery impact the appraisal process?

A property owner holds the fee simple interest but has leased the property to a tenant for 20 years. The owner's interest during the lease term is called:

A triangular lot has frontage of 120 feet and a depth of 150 feet. Using a price of $12 per square foot, what is the estimated lot value?

A commercial property has excellent street access but poor internal traffic flow due to narrow aisles and awkward loading dock placement. This represents:

The presence of asbestos-containing materials in a building constructed in 1975 would most likely be found in:

A property owner holds title to land but a utility company has the right to install and maintain power lines across the property. The utility company's right represents:

Which type of foundation system is most commonly used in areas with expansive clay soils?

A property is located in an area that has been rezoned from residential to commercial, but the current single-family use predates the zoning change. This property has:

An appraiser discovers that a neighboring property has a driveway that extends 3 feet onto the subject property. This situation represents:

When appraising the landlord's interest in a property subject to a long-term lease below market rent, the appraiser is valuing the:

In the rectangular (government) survey system, how many acres are contained in one section?

Which property right represents the tenant's interest in a leased property?

A property is located in Zone AE on a FEMA flood map. What does this designation indicate?

Which building construction type is most susceptible to fire damage and typically has the lowest insurance ratings?

A building was constructed in 1985 but has been well-maintained and recently renovated. If the building shows the condition typical of a structure built in 1995, what is its effective age?

In a metes and bounds legal description, what does the term 'POB' represent?

A commercial property has a net operating income of $125,000 and is subject to a ground lease with annual rent of $15,000. What is the income attributable to the leased fee interest?

A single-family residence has only one bathroom, bedrooms that can only be accessed through other bedrooms, and a kitchen with no counter space. These issues represent problems with:

In the rectangular survey system, how many acres are contained in one section?

A building constructed in 1995 has an estimated total economic life of 60 years. If the effective age is determined to be 15 years, what is the remaining economic life?

A rectangular lot measures 150 feet by 200 feet. If the local market value is $8.50 per square foot, what is the estimated land value?

Which site characteristic would be considered most detrimental to residential development?

Which factor would have the LEAST impact on the value of a leasehold interest?

In post-and-beam construction, what is the primary advantage over conventional platform framing?

A 2,400 square foot house has a master bedroom that is 10 feet × 8 feet. This would most likely be considered:

A building with a total economic life of 50 years is currently 15 years old but has an effective age of 10 years due to recent renovations. What is the remaining economic life?

Which environmental condition would most likely require disclosure in an appraisal report?

A site slopes 15 feet over a horizontal distance of 300 feet. What is the percentage of slope?

An appraiser discovers that a property is subject to a conservation easement that prohibits any future development of the rear 2 acres. This easement would most directly affect:

What type of foundation system is most appropriate for expansive clay soils?

A property is zoned R-2 (Medium Density Residential) but the owner wants to operate a small retail business from the home. What would allow this use?

A property in Township 3 North, Range 4 West, Section 15, NE 1/4, SW 1/4 contains how many acres?

An easement that benefits a particular parcel of land and transfers with ownership of that land is called: