Real Estate Math
An Oregon apartment complex has a purchase price of $1,200,000 and a GRM of 100. What is the estimated monthly rent roll?
A$12,000✓ Correct
B$1,200
C$120,000
D$14,400
Explanation
GRM = Purchase Price ÷ Monthly Rent. Solving for monthly rent: Monthly Rent = Purchase Price ÷ GRM = $1,200,000 ÷ 100 = $12,000/month.
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