Property Valuation
A property with a GRM of 120 generates $1,500 per month in rent. What is the estimated value?
A$150,000
B$180,000✓ Correct
C$160,000
D$140,000
Explanation
Value = GRM × Monthly Rent = 120 × $1,500 = $180,000. Using the values given ($1,500), apply the appropriate formula.. The correct answer is $180,000.. This is a common calculation on the Nebraska real estate exam.
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