Real Estate Math
A Massachusetts property has a gross rent multiplier of 12.5 (annual). If the property's annual gross rents are $84,000, what is the estimated value?
A$1,050,000✓ Correct
B$840,000
C$672,000
D$700,000
Explanation
Value = Annual Gross Rent × Annual GRM = $84,000 × 12.5 = $1,050,000.
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