Real Estate Math
A Kansas property has a GRM of 120 and monthly rent of $1,200. What is the estimated value?
A$120,000
B$144,000✓ Correct
C$156,000
D$180,000
Explanation
Value = Monthly Rent × GRM = $1,200 × 120 = $144,000. Using the values given ($1,200), apply the appropriate formula..
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