Real Estate Math
An Arizona rental property generates $2,400 per month in rent. The gross rent multiplier (GRM) for comparable properties is 135. What is the estimated value?
A$324,000✓ Correct
B$288,000
C$316,800
D$243,000
Explanation
Value = Monthly rent × GRM = $2,400 × 135 = $324,000. Using the values given ($2,400), apply the appropriate formula.. The correct answer is $324,000.. This is a common calculation on the Arizona real estate exam.
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