Real Estate Math
An investor buys a Nevada duplex for $350,000. Each unit rents for $1,500/month. What is the annual gross rent multiplier (GRM)?
A9.7
B11.6✓ Correct
C12.5
D14.0
Explanation
Annual gross rent = 2 units x $1,500 x 12 = $36,000. GRM = $350,000 / $36,000 = 9.72. Rounded to 9.7.72, which rounds to 9.7. The7.
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