Real Estate Math
A Colorado property generates monthly gross rent of $3,500. Using a gross rent multiplier (GRM) of 140, what is the indicated market value?
A$420,000
B$490,000✓ Correct
C$560,000
D$630,000
Explanation
Value = Monthly Gross Rent × GRM = $3,500 × 140 = $490,000. Using the values given ($3,500), apply the appropriate formula..
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