Practice problem 5.3 – Realty
A
B
C
Type
TownHouse
Flat
Flat
TownHouse
Flat
Flat
TownHouse
TownHouse
Pool
Yes
Yes
No
No
Yes
Yes
No
Yes
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Lakeshore Realty
Belmont Apts
Swan Lake Apts
Heritage Condos
Fairview Apts
Wilmington Village
Atherton Place
Libery Plaza
D
E
Property Overview
Units Monthly Rent
In Use
Per Unit
50
$
950.00
75
$
700.00
50
$
725.00
40
$
1,100.00
80
$
600.00
100 $
575.00
50
$
1,000.00
75
$
825.00
Total Revenue
Number of properties with a pool
5
Summary by Apartment Type
TownHouse
Flat
# of properties
4
4
Revenue
$ 203,375.00 $ 194,250.00
Average Revenue
$ 50,843.75 $ 48,562.50
F
$
$
$
$
$
$
$
$
G
Monthly
Revenue
47,500.00
52,500.00
36,250.00
44,000.00
48,000.00
57,500.00
50,000.00
61,875.00
$ 397,625.00 Min
Max
H
I
J
K
Tenant Satisfaction Survey
Quality
5
4
3
3
4
2
5
4
2
5
Staff
4
4
3
5
3
1
3
5
Maint
5
4
4
4
4
2
3
4
1
5
Overall
4.67
4.00
3.33
4.00
3.67
1.67
3.67
4.33
2
5
1.67
4.67
Overall Quality
Top 3
Bottom 3
1
4.67
1.67
2
4.33
3.33
3
4
3.67
You are a real estate investor who owns a collection of apartment properties. Above is a
spreadsheet presenting both an overview of the properties and the results of a recent tenant
satisfaction survey. Please note that the gray cells contain provided information, while the
remaining cells are to be calculated by the formulas provided in the questions below.
1. Write an Excel formula in cell F3, which can be copied down, to calculate the current
monthly revenue for the corresponding property.
=D3*E3
2. Write an Excel formula in cell F12 to calculate the total monthly revenue from all of the
properties.
=SUM(F3:F10)
3. Write an Excel formula in cell C13 to calculate the number of properties that have a pool.
=COUNTIF(C3:C10,"Yes")
4. Write an Excel formula in cell B17 to calculate the number of townhouse properties that you
currently own. Write this formula so that when you copy it across it calculates the number of
flat style apartment properties that you own.
=COUNTIF($B3:$B10, B16)
5. Write an Excel formula in cell B18 to calculate the revenue from the townhouse properties
that you currently own. Write this formula so that when you copy it across it calculates the
corresponding value for flat style apartments.
=SUMIF($B3:$B10, B16, $F3:$F10)
6. Write an Excel formula in cell B19 to calculate the average revenue bought in by a
townhouse property. Write this formula so that when you copy it across it calculates the
corresponding value for flat style apartments.
=B18/B17
7. Write an Excel formula in cell K3, which can be copied down, to calculate the overall tenant
satisfaction score for each property. The overall score is calculated by taking the average of
the scores received for quality, staff, and maintenance. Round this value to the nearest
hundredth.
=ROUND(AVERAGE(H3:J3),2)
8. Write an Excel formula in cell H12, which can be copied across, to calculate the minimum
score received in this survey category.
=MIN(H3:H10)
9. Write an Excel formula in cell H13, which can be copied across, to calculate the maximum
score received in this survey category.
=MAX(H3:H10)
10. In cells J17 to J19 you would like to display the top three overall survey scores. Write an
Excel formula in cell J17 which, when copied down, will calculate the top three overall
scores received in the tenant survey.
=LARGE(K$3:K$10, I17)
11. Similarly, in cells K17 to K19 you would like to display the lowest three overall survey
scores. Write an Excel formula in cell K17 which, when copied down, will calculate the
lowest three overall scores received in the tenant survey.
=SMALL(K$3:K$10, I17)