Real Estate Math
A property has annual gross rents of $30,000 and a GRM of 110. What is the estimated property value?
A$300,000
B$330,000✓ Correct
C$370,000
D$390,000
Explanation
When using annual GIM: Value = Annual Rent × GIM = $30,000 × 110 = $3,300,000... that seems too high.
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