Real Estate MathIntermediateDelaware Exam
A property generates monthly gross rent of $2,400. Using a GRM of 110, what is the estimated property value?
A$264,000Correct
B$288,000
C$316,800
D$240,000
Why $264,000 Is Correct
Answer A: $264,000
Annual gross rent = $2,400 × 12 = $28,800. Value = Annual Gross Rent × GRM = $28,800 × 110 = $3,168,000.
Exam Tip: Real Estate Math
Math questions are formula-based. Memorize the key formulas: commission splits, proration, cap rate (NOI ÷ Value), GRM (Price ÷ Gross Rent), and LTV (Loan ÷ Value). Practice converting between annual and monthly figures.
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