Real Estate Math
An investor purchases a Queens rental property for $850,000 and receives $75,000 in annual gross rent. The gross rent multiplier (GRM) is:
A8.82
B11.33✓ Correct
C6.25
D10.00
Explanation
GRM = Sale Price ÷ Gross Annual Rent = $850,000 ÷ $75,000 = 11.33.
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