Real Estate Math
A rental property in Durham, NC rents for $1,800/month. Using a GRM of 150, what is the estimated property value?
A$216,000
B$270,000✓ Correct
C$300,000
D$324,000
Explanation
Value = Monthly rent x GRM = $1,800 x 150 = $270,000. Using the values given ($1,800), apply the appropriate formula..
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