Real Estate Math

A property has monthly gross rent of $3,600. At a GRM of 120, what is its estimated value?

A$345,600

B$360,000

C$432,000✓ Correct

D$420,000

Explanation

Value = GRM × Monthly Gross Rent = 120 × $3,600 = $432,000. Using the values given ($3,600), apply the appropriate formula..

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