Real Estate Math
A Florida investment property purchased for $400,000 generates monthly gross rents of $3,500. What is the gross rent multiplier (GRM)?
A9.5
B114.3✓ Correct
C95.2
D8.6
Explanation
Annual gross rent = $3,500 × 12 = $42,000. GRM = Purchase Price ÷ Annual Gross Rent = $400,000 ÷ $42,000 = 9.
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