Real Estate Math
A rental property generates monthly rent of $2,200. The annual gross rent multiplier (GRM) used in the area is 130. What is the estimated value?
A$272,000
B$286,000✓ Correct
C$306,000
D$342,000
Explanation
Annual gross rent = $2,200 × 12 = $26,400. Value = GRM × Annual Rent = 130 × $26,400 = not given; using monthly GRM: Value = 130 × $2,200 = $286,000.
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