Property Valuation
A duplex generates $18,000 annually in gross rent. The gross rent multiplier (GRM) for comparable properties is 85. What is the estimated property value?
A$1,350,000
B$1,530,000✓ Correct
C$1,700,000
D$1,980,000
Explanation
Value = Annual Gross Rent × GRM. $18,000 × 85 = $1,530,000.
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