Property Valuation
An Arizona property has 4 units each renting for $1,200/month. Using a GRM of 120, what is the estimated value?
A$576,000✓ Correct
B$691,200
C$144,000
D$5,760,000
Explanation
Monthly gross rent = 4 × $1,200 = $4,800. Value = GRM × Monthly Gross Rent = 120 × $4,800 = $576,000.
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