Property Valuation
A Massachusetts rental property has a gross monthly rent of $4,500 and recently sold properties show a monthly GRM of 150. What is the indicated value?
A$675,000✓ Correct
B$540,000
C$600,000
D$750,000
Explanation
Value = Monthly Rent × Monthly GRM = $4,500 × 150 = $675,000. Using the values given ($4,500), apply the appropriate formula..
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