Real Estate Math
An Allentown duplex produces $2,200/month from each unit. What is the annual gross rent income?
A$26,400
B$52,800✓ Correct
C$44,000
D$48,000
Explanation
Monthly income = $2,200 × 2 units = $4,400. Annual = $4,400 × 12 = $52,800. Calculating gross rent multiplier (GRM) and cap rates begins with establishing the annual gross income from all units.
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