Real Estate Math
A Delaware apartment building has 8 units renting at $950/month. The building sold for $912,000. What is the gross rent multiplier (GRM)?
A8
B10
C12✓ Correct
D15
Explanation
Annual gross rent = 8 × $950 × 12 = $91,200. GRM = Sale Price ÷ Annual Gross Rent = $912,000 ÷ $91,200 = 10.
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