Property Valuation
A Hawaii residential property has a gross monthly rent of $3,500 and a gross rent multiplier (GRM) of 180. What is the estimated value?
A$420,000
B$550,000
C$630,000✓ Correct
D$700,000
Explanation
Value = GRM × Monthly Rent = 180 × $3,500 = $630,000. Using the values given ($3,500), apply the appropriate formula.. The correct answer is $630,000.. This is a common calculation on the Hawaii real estate exam.
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