Real Estate Math
A Brooklyn property's annual gross rent is $96,000 with a GRM of 12. The estimated value is:
A$800,000
B$960,000
C$1,152,000✓ Correct
D$8,000
Explanation
Value = GRM × Annual Gross Rent = 12 × $96,000 = $1,152,000. Using the values given ($96,000), apply the appropriate formula..
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