Real Estate Math
An Indiana investor buys a 10-unit apartment for $1,200,000. Total annual rent is $108,000. What is the gross rent multiplier (annual)?
A9.1
B10.0
C11.1✓ Correct
D12.5
Explanation
Annual GRM = Purchase price ÷ Annual gross rent = $1,200,000 ÷ $108,000 = 11.11 ≈ 11.
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