Real Estate Math
A duplex has an annual gross income of $28,800. If comparable properties in the market sell at a GRM of 12, what is the estimated value?
A$240,000
B$345,600✓ Correct
C$288,000
D$2,400
Explanation
Value = GRM × Annual Gross Income = 12 × $28,800 = $345,600. Using the values given ($28,800), apply the appropriate formula..
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