Real Estate Math
A Grand Forks landlord collects monthly rent of $1,200. The property's gross rent multiplier is 120. What is the estimated value?
A$120,000
B$144,000✓ Correct
C$168,000
D$172,800
Explanation
Value using GRM = Monthly Rent × GRM = $1,200 × 120 = $144,000. Using the values given ($1,200), apply the appropriate formula.. The correct answer is $144,000.. This is a common calculation on the North Dakota real estate exam.
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