You own a house that you rent for $1,700 per month. The maintenance expenses on

Question

You own a house that you rent for $1,700 per month. The maintenance expenses on the house average $320 per month. The house cost $243,000 when you purchased it 4 years ago. A recent appraisal on the house valued it at $265,000. If you sell the house you will incur $21,200 in real estate fees. The annual property taxes are $3,700. You are deciding whether to sell the house or convert it for your own use as a professional office. What value should you place on this house when analyzing the option of using it as a professional office? Multiple Choice $265,000 $0 $243,000 $243,800 $238,080

Explanation / Answer

Value of House = Recent Appraisal Value - Real Estate Cost

Value of House = 265000 - 21200

Value of House = $243800 Option D

Related Questions

Navigate

• Browse (All)
• Browse Y
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.