Real Estate Math
A Colorado property has a GRM of 150 and monthly rents of $2,200. Using the GRM method, what is the estimated value?
A$300,000
B$330,000✓ Correct
C$280,500
D$440,000
Explanation
Value = Monthly Gross Rent × GRM = $2,200 × 150 = $330,000. Using the values given ($2,200), apply the appropriate formula..
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