Real Estate Math
A rental property has a GRM of 110 and a monthly rent of $1,500. What is the estimated value?
A$150,000
B$165,000✓ Correct
C$180,000
D$165,500
Explanation
Value = GRM × Monthly Rent = 110 × $1,500 = $165,000. Using the values given ($1,500), apply the appropriate formula..
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