Property Valuation
A Connecticut rental property has a gross rent multiplier (GRM) of 11. The monthly rent is $2,800. What is the estimated property value?
A$30,800
B$369,600✓ Correct
C$184,800
D$308,000
Explanation
GRM × annual gross rent = value. Annual rent = $2,800 × 12 = $33,600.
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