Real Estate Math
A property has a gross monthly rent of $2,400. If the GRM is 160, what is the estimated value?
A$288,000
B$320,000
C$384,000✓ Correct
D$400,000
Explanation
Value = GRM × Gross Monthly Rent = 160 × $2,400 = $384,000. Using the values given ($2,400), apply the appropriate formula..
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