Real Estate Math
An income property has a GRM of 120. Monthly rent is $1,800. What is the estimated property value?
A$21,600
B$216,000✓ Correct
C$2,160,000
D$180,000
Explanation
Value = Monthly rent x GRM = $1,800 x 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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