Real Estate Math
A Colorado investor purchases a fourplex for $600,000. Each unit rents for $1,400/month. What is the annual gross rent multiplier (GRM) using annual income?
A9.82
B10.71✓ Correct
C11.90
D35.71
Explanation
Annual gross rent = 4 units × $1,400 × 12 months = $67,200. Annual GRM = $600,000 ÷ $67,200 = 8.
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