Real Estate Math
A Florida investor paid $180,000 for a rental home. The property rents for $1,600 per month. What is the annual gross rent multiplier (GRM)?
A9.375✓ Correct
B10.0
C11.25
D12.5
Explanation
Annual gross rent = $1,600 × 12 = $19,200. GRM = Purchase Price ÷ Annual Gross Rent = $180,000 ÷ $19,200 = 9.375.
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