Real Estate Math

A Minot, ND rental property has monthly gross income of $2,400 and a GRM of 110. What is the estimated market value?

A$252,000

B$264,000✓ Correct

C$288,000

D$300,000

Explanation

Value = Monthly rent × GRM = $2,400 × 110 = $264,000. Using the values given ($2,400), apply the appropriate formula..

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