Real Estate Math
A duplex in Oklahoma City produces gross annual rents of $24,000. Using a gross rent multiplier (GRM) of 10, what is the estimated value?
A$2,400
B$240,000✓ Correct
C$120,000
D$480,000
Explanation
Estimated Value = GRM × Gross Annual Rent. 10 × $24,000 = $240,000. The GRM method provides a quick rough estimate of value based on rental income.
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