Real Estate Math
A property has a gross rent of $36,000 per year. The gross rent multiplier (GRM) for the area is 12. What is the estimated value?
A$380,000
B$400,000
C$420,000
D$432,000✓ Correct
Explanation
Value = Gross Annual Rent x GRM = $36,000 x 12 = $432,000. Using the values given ($36,000), apply the appropriate formula..
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