Real Estate Math Practice Questions

The type of depreciation that is NOT curable because it is caused by factors outside the property is:

External (economic) obsolescence is caused by factors outside the property — a noisy highway, a declining neighborhood — and is generally incurable. Physical and functional issues are often curable. Common trap: students think all depreciation can be fixed; external obsolescence cannot be cured by the owner.

A commercial lot is 0.75 acres. How many square feet is it?

0.75 × 43,560 = 32,670 sq ft. Common trap: students use 40,000 sq ft per acre, or forget to multiply the fraction by the conversion factor.

The amount of land in a parcel described as the "NW 1/4 of the SW 1/4 of Section 12" is:

A section is 640 acres. 1/4 of 1/4 = 640 × 1/4 × 1/4 = 40 acres. Common trap: students multiply only once (160 acres) or forget a section contains 640 acres.