California Real Estate Practice Exam Flash Cards

Seller "ABLE" recently sold a property for $141,450, which was 15% more than he paid for it. He held the property for two years, during which time his interest expenses were 10% of his purchase price (5% per year). Taxes were $80 per $1,000 of assessed valuation, and the property was assessed at 25% of the original purchase price. Seller's ownership resulted in a net: