Real Estate Math
A Nevada property has annual gross income of $48,000 and a GRM of 95 (monthly). What is the estimated property value?
A$380,000✓ Correct
B$456,000
C$480,000
D$570,000
Explanation
Monthly gross rent = $48,000 ÷ 12 = $4,000. Value = Monthly Rent × GRM = $4,000 × 95 = $380,000.
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