Real Estate Math
A Nevada property has a monthly gross income of $2,800. Using a Gross Rent Multiplier of 110, what is the estimated property value?
A$280,000
B$308,000✓ Correct
C$336,000
D$364,000
Explanation
Value = Monthly Rent × GRM = $2,800 × 110 = $308,000. Using the values given ($2,800), apply the appropriate formula..
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