Real Estate Math
A Kansas property has a gross rent of $1,500/month. Using a Gross Rent Multiplier (GRM) of 140, what is the estimated value?
A$180,000
B$210,000✓ Correct
C$240,000
D$252,000
Explanation
Annual GRM: $1,500 × 12 = $18,000 annual rent. Value = $18,000 × (140/12)... Or using monthly GRM: Value = $1,500 × 140 = $210,000.
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