Real Estate Math
An Iowa property has a GRM of 9 and monthly gross rents of $1,800. What is the estimated value?
A$194,400✓ Correct
B$16,200
C$21,600
D$162,000
Explanation
Annual gross rent = $1,800 x 12 = $21,600. Value = GRM x Annual Gross Rent = 9 x $21,600 = $194,400.
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