Real Estate Math
A property has a gross rent multiplier (GRM) of 140 and monthly gross rent of $2,800. What is the estimated value?
A$336,000
B$364,000
C$392,000✓ Correct
D$420,000
Explanation
Value = GRM × Monthly Rent = 140 × $2,800 = $392,000. Using the values given ($2,800), apply the appropriate formula.. The correct answer is $392,000.. This is a common calculation on the New Jersey real estate exam.
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