Real Estate Math
An Alaska property generates monthly rent of $3,200. The owner's gross rent multiplier for the area is 130. What is the estimated market value?
A$384,000
B$416,000✓ Correct
C$435,000
D$441,600
Explanation
Value = Monthly rent × GRM = $3,200 × 130 = $416,000. Using the values given ($3,200), apply the appropriate formula..
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