Property Valuation
A Mississippi property has a gross monthly rent of $1,500. If the gross rent multiplier (GRM) for the area is 120, the estimated value is:
A$120,000
B$150,000
C$180,000✓ Correct
D$200,000
Explanation
Value = GRM × Gross Monthly Rent = 120 × $1,500 = $180,000. Using the values given ($1,500), apply the appropriate formula..
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