Real Estate Math
A rental property generates $2,500 per month in gross rent. The GRM in the market is 120. What is the estimated property value?
A$250,000
B$300,000✓ Correct
C$325,000
D$350,000
Explanation
Property value = Monthly rent × GRM = $2,500 × 120 = $300,000. Using the values given ($2,500), apply the appropriate formula..
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