Real Estate Math
A property has a gross monthly rent of $3,800. Using a GRM of 145, what is the estimated value?
AA. $551,000✓ Correct
BB. $456,000
CC. $551,000
DD. $475,000
Explanation
Value = Monthly Gross Rent × GRM = $3,800 × 145 = $551,000. Using the values given ($3,800), apply the appropriate formula..
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