Real Estate Math
A Florida property's gross rent multiplier (annual) is 12. If the property's annual gross rent is $42,000, the estimated market value is:
A$504,000✓ Correct
B$420,000
C$350,000
D$630,000
Explanation
Value = Annual Gross Rent × GRM = $42,000 × 12 = $504,000. Using the values given ($42,000,), apply the appropriate formula.. The correct answer is $504,000.. This is a common calculation on the Florida real estate exam.
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