Real Estate Math
A Michigan rental property costs $280,000. Monthly gross rent is $2,400. What is the gross rent multiplier (GRM)?
A116.7✓ Correct
B140
C100
D85.4
Explanation
GRM = Sale Price / Monthly Gross Rent = $280,000 / $2,400 = 116.67 ≈ 116.7. Using the values given ($280,000, $2,400), apply the appropriate formula.. The correct answer is 116.7.. This is a common calculation on the Michigan real estate exam.
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