A lot with a depth of 80 feet and an area of 4,800 sq ft was sold for $350 per front foot. What was the total sales price?

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Study for the Washington Real Estate Fundamentals Rockwell Exam. Utilize flashcards, multiple choice questions with hints and explanations. Prepare thoroughly for your real estate career!

Multiple Choice

A lot with a depth of 80 feet and an area of 4,800 sq ft was sold for $350 per front foot. What was the total sales price?

Explanation:
Pricing by front foot means you’re paying a set amount for each foot of street frontage the lot has. To find the total price, first determine how many front feet the lot has: frontage = area ÷ depth = 4,800 ÷ 80 = 60 feet. Then multiply by the price per front foot: 60 × $350 = $21,000. So the total sales price is $21,000. (Common pitfall: multiplying depth by the front-foot price would give $28,000, which isn’t correct because the price is per front foot, not per depth.)

Pricing by front foot means you’re paying a set amount for each foot of street frontage the lot has. To find the total price, first determine how many front feet the lot has: frontage = area ÷ depth = 4,800 ÷ 80 = 60 feet. Then multiply by the price per front foot: 60 × $350 = $21,000. So the total sales price is $21,000. (Common pitfall: multiplying depth by the front-foot price would give $28,000, which isn’t correct because the price is per front foot, not per depth.)

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