Real Estate Math
A Maine 4-unit apartment building sells for $480,000. Monthly rents are $1,000 each. The gross rent multiplier (GRM, based on annual rent) is:
A10✓ Correct
B12
C48
D40
Explanation
Annual gross rent = 4 × $1,000 × 12 = $48,000. GRM = $480,000 ÷ $48,000 = 10.
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