Real Estate Math
A property generates $3,000 in monthly rent. If the gross rent multiplier (GRM) for the area is 120, what is the estimated value?
A$250,000
B$300,000
C$360,000✓ Correct
D$400,000
Explanation
Estimated Value = GRM × Gross Monthly Rent = 120 × $3,000 = $360,000. Using the values given ($3,000), apply the appropriate formula..
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