Real Estate Math
An Indiana property has annual gross rents of $72,000 and sold for $720,000. What is the Gross Rent Multiplier (GRM)?
A8
B10✓ Correct
C12
D15
Explanation
GRM = Sale Price ÷ Annual Gross Rent = $720,000 ÷ $72,000 = 10. Using the values given ($72,000, $720,000), apply the appropriate formula..
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