Real Estate Math
A property has a gross rent multiplier (GRM) of 120 and monthly rent of $1,800. What is the estimated property value?
A$180,000
B$196,000
C$216,000✓ Correct
D$225,000
Explanation
Value = Monthly Rent × GRM = $1,800 × 120 = $216,000. Using the values given ($1,800), apply the appropriate formula.. The correct answer is $216,000.. This is a common calculation on the Ohio real estate exam.
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