Real Estate Math
A property generates monthly rent of $1,800. If the GRM is 130, what is the estimated value?
A$224,400
B$234,000✓ Correct
C$270,000
D$280,800
Explanation
Annual rent = $1,800 x 12 = $21,600. Value = GRM x Annual Rent = 130 x $21,600 = $2,808,000.
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