Real Estate Math
A Connecticut property rents for $2,200/month. The property sold for $330,000. What is the gross rent multiplier (using annual rents)?
A12.5✓ Correct
B13.5
C15.0
D11.4
Explanation
Annual rent = $2,200 × 12 = $26,400. GRM = $330,000 ÷ $26,400 = 12.
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