simplex

Definition

A mathematical object that's the fancy geometry version of a triangle or tetrahedron—basically the simplest shape you can make in any dimension. In real estate, sometimes used to describe a single, uncomplex property unit without fancy features or complications.

Example Usage

The developer kept the floor plan simplex to appeal to minimalist buyers.

Source: Mathematical Dictionary and Real Estate Industry Terminology

Related Terms

Beginner

setbacks

In real estate, the legally mandated buffer zone between your dream home and the street—because apparently neighbors don't trust you to build right up to the sidewalk. This zoning requirement ensures adequate spacing for utilities, pedestrian safety, and keeping your McMansion from literally looming over passing joggers. Think of it as the government's way of forcing you to have a front yard whether you want one or not.

🏠 Real Estate

Beginner

distressed property

Real estate euphemism for a building that's either foreclosed, about to be foreclosed, or looks like it should be condemned. The fixer-upper's troubled cousin who really needs an intervention.

🏠 Real Estate

Intermediate

drip pricing

The practice of advertising a low base price for a property while gradually revealing additional mandatory fees throughout the transaction. The 'budget airline' approach to real estate pricing.

🏠 Real Estate

Intermediate

gross rent multiplier

A quick property valuation metric calculated by dividing sale price by annual gross rental income, used to compare investment properties. It's the back-of-napkin math real estate investors use before getting serious with cap rates and cash flow analysis.

🏠 Real Estate

Intermediate

land contract

A seller-financed agreement where the buyer makes payments directly to the seller but doesn't receive the deed until paid in full. It's layaway for houses, with all the same risks.

🏠 Real Estate

Intermediate

Cash Offer

The real estate equivalent of bringing a bazooka to a knife fight. When someone shows up with actual money and no mortgage contingency, every other buyer might as well go home and write in their journal.

🏠 Real Estate

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