Real Estate Math
A New Mexico investor buys a duplex for $320,000. Each unit rents for $1,200/month. What is the annual gross rent multiplier (GRM)?
A11.1✓ Correct
B13.3
C15.0
D10.0
Explanation
Annual gross rent = 2 units x $1,200 x 12 = $28,800. GRM = $320,000 / $28,800 = 11.
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