Real Estate Math
A property's gross rent multiplier (monthly) is 108 and the monthly rent is $2,100. What is the estimated value?
A$200,000
B$226,800✓ Correct
C$210,000
D$218,000
Explanation
Value = GRM x Monthly Rent = 108 x $2,100 = $226,800. Using the values given ($2,100), apply the appropriate formula..
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